Withdrawing Money From Your Retirement Accounts

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Michael Kitces

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Joseph Anderson

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Alan Clopine

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Published On

April 18, 2015

This first hour of the podcast is about withdrawing money from your retirement accounts. What should you look at when you are starting to take withdrawals? Learn how much money you need, where you should draw from and how you can test your portfolio. Special guest Michael Kitces stops by the show to discuss the three pillars of generating retirement income.

2:53 “The most important takeaway is this: how, when and where you withdraw your money in retirement will have a profound impact on your income

6:47 “Plan to live into your 90’s, because that’s what’s going on demographically”

11:40 “You need a lot of safety because now you’re pulling money out of your portfolio so you have to have a certain part of your portfolio that’s very safe that you can pull money out for your lifestyle no matter what the market is doing”

16:34 “Anything that’s in a Roth IRA, depending on what it’s invested in, doesn’t matter, all future growth and income, and principle is tax-free. And it’s tax-free for your lifetime, for your spouse’s lifetime if you pass, and not everyone knows this”

29:30 Start of Conversation with Michael Kitces

31:48 “What most retirees need to do in today’s real world situation is to draw interest on things like bonds, we’re going to draw on dividends from stocks, we’re going to get some capital gain appreciation on equity”

33:04 “That balancing of how are going to do the spending and liquidation, how are we doing it for tax purposes and then how are we going to invest to that; to me these are the three pillars of generating retirement income”