I Agree with @SmartAsset's Advice for Withdrawing Retirement income, but Not with their #Greedy Reasons for it
Basically, their advertorial (linked from the frame linked through the bold text below) says not to draw from certain accounts a.s.a.p., because you'll get more money from them if you wait a few more years to withdraw.
While that's true, it's not the reason the money is there.
#Greed #Greedily #Greediness
- When you retire, withdraw money from your Investment Accounts first.
- Wait until you're 70 to take benefits from SSI.
- Don't start taking Required Minimum Distributions (from your 401(k) & IRA) before age 72
- Exhaust all your other options before tapping into your Roth IRA.
- Speak with a Financial Advisor to find the best way to plan withdrawals.
Like I said, they say to do those things "because it'll give you more money when you finally withdraw from a fully matured account." But the reason I would do it is the same reason President Roosevelt told us to keep our money in the banks (in the very first Fireside Chat---I learned from Professor Maddow🤓🍎)---because (in so-many words) the bank-owners use our money to invigorate & multiply the abundance of The System.
My New Mantra (one of several) |
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