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This strategy may help ensure you won’t run out of money in retirement

June 2, 2022

From the CNBC website

Those annoying required minimum withdrawals from retirement accounts that kick in at age 72 may come with a silver lining: helping you make your money last through your lifetime.

Generally speaking, if you were to take only your yearly RMDs it would mean those accounts wouldn’t be depleted in your lifetime. Of course, as with most things in financial planning, the strategy can’t be viewed in a vacuum.

“You can use it as a plan — as a guideline — but it’s highly unlikely you’d stick to it throughout your whole life,” said Ed Slott, CPA and founder of Ed Slott and Co. “You have to plan for life happening.”

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