How A Distribution Plan Can Maximize Retirement Plan Assets
posted 8 months ago
You've spent your entire working life building your retirement accounts. Now as you're about to retire, it's time to begin thinking about how to distribute the funds in your retirement accounts. What does the law require? What about taxes? Does it make a difference which retirement account you withdraw from first?
With 10,000 baby boomers reaching retirement age every day, it's an important question. And according to the Investment Company Institute, there's over $24 trillion in retirement plan assets held in accounts. Most is in the accounts of those baby boomers. Having a plan for distributing your retirement assets can play a big part in how far those assets go.
We asked John C. Neyland, President of JCN Financial & Tax Planning Group in Baton Rouge, Louisiana to help us understand how a retirement distribution strategy can maximize income.