Which Accounts Should You Spend First In Retirement?
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Taxes in retirement are tricky. Depending on where you are drawing income, and how much you could be hit with all sorts of taxes. Understanding which accounts to access, and in what order is key to minimizing that tax liability, and keeping more of your money!
0:00 3 Types of Money
2:27 The Typical Retiree Portfolio
3:15 The Problem With Delaying Distributions
4:10 The Cost of Delaying to RMDs
4:46 So What Should You Do?
6:03 If You Have Large Tax Deferred Balances
7:30 If You Have Lower Tax Deferred Balances
8:30 Take Advantage of Low Tax Rates