What Accounts Do I Withdraw From First In Retirement?

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Planning for retirement involves many crucial decisions, one of which is determining the best order to withdraw from your retirement accounts. Traditional advice often suggests a sequential approach- pulling money out of one type of account completely before moving to the next. But is this really the best strategy for everyone?

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Things You’ll Learn Along Today’s Journey

Planning for retirement involves many crucial decisions, one of which is determining the best order to withdraw from your retirement accounts. Traditional advice often suggests a sequential approach- pulling money out of one type of account completely before moving to the next. But is this really the best strategy for everyone?

According to Sean, a simultaneous withdrawal strategy- where you pull money from multiple accounts at the same time- can often be more beneficial. This method allows you to minimize your tax burden and extend the longevity of your retirement funds. Tune in as Sean discusses the pros and cons of these strategies and shares some key factors to consider when deciding the best approach for your retirement planning.

Here’s some of what we discuss in this episode:

  • Why Sean doesn’t believe a sequential withdrawal approach is best
  • How different withdrawal strategies can affect your tax liabilities and Medicare premiums
  • What does it mean to simultaneously pull money out of your accounts?
  • Working with a professional to customize your withdrawal strategy

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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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slee@erg-slc.com

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