How much money are you going to take from what accounts, and when are you going to take it in retirement? Logan DeGraeve, CFP®, AIF® and Chris Rett, CFP®, AIF® want to make sure that you have a retirement distribution strategy that has you withdrawing money from your accounts in the most efficient way possible, so they shared 6 retirement withdrawal mistakes to avoid on today's show.
Timestamps:
00:00 – Introduction
01:00 – 1. Withdrawing before 59.5:
03:49 – 2. Timing Withdrawals Improperly
06:38 – 3. Social Security Claiming Mistakes
12:03 – 4. Pulling Funds from the Incorrect Bucket
16:03 – 5. Following the 4% rule – out of each Bucket
18:50 – 6. Not Optimizing Your QCDs on RMDs
22:00 – What We Learned Today
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Retirement Checklist: https://bit.ly/3QKpul2
Planning Tool: https://bit.ly/3QOc7AB
401(k) Factors You Need to Know: https://www.youtube.com/watch?v=1jThp63KUkc
Setting Up a Spending Plan for Retirement: https://youtu.be/5CHb7BAAI2Q
Setting Up Your Portfolio for Retirement: https://youtu.be/0q6hPmtUdwU
Busting Retirement Planning Myths: https://youtu.be/lP6o9iYCA3o Taxes on Retirement Income: https://youtu.be/I9UUlenPT8Y
Health Care Costs During Retirement: https://youtu.be/7ffrE3wnBuc
Roth Conversion Questions from the Internet: https://youtu.be/65uerfp0DdU
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Investment advisory services offered through Modern Wealth Management, LLC, an investment adviser registered with the SEC.
The views expressed represent the opinion of Modern Wealth Management an SEC Registered Investment Adviser. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.