What'cha Goin' to Do

If there are any of you that are approaching that magic time you are going to be forced to take mandatory withdrawals out of your 401(k), IRAs and 503 (b)s what is your plan?   I hate the idea that I will be forced to start spending that money and being charged tax on it.   I could take it all out at one time and pay tax on it all at once but I hate that idea too.  Sounded like a good idea when we did it but now not so much.  I would appreciate any ideas.


1 comment:

  1. My husband is also retired military, USAF, MSgt. He's also a disabled veteran. We had to start required distributions last year. We only take the minimum distribution from each account. Luckily we don't have to take enough for it to affect our taxes, our income bracket has dropped enough since the only taxable income we have is his military retirement. I worked as a tax consultant for years and suggest that you talk to yours. Lump sums are always a bad idea in my book.