Retirement Withdrawal Order Explained | Bruce Lorenz #financialadvisor #personalfinance

In retirement? What accounts should you spend first? Well, it's not a one size fits all answer. It's a personal choice. It's like coffee versus tea or deciding whether pineapple belongs on a pizza. It doesn't. You need to align on your goals. Understand what it is you're trying to accomplish with the financial planning process, which will lead to more questions. Should you do a Roth conversion? Are you trying to get health insurance on the marketplace without taking a second mortgage out to pay the premium? Are you trying to get a tax subsidy? Legally? Of course. Are you happy with your asset allocation, or do you break out in hives every time the market sneezes? What about your required minimum distributions? Will you have a surprise tax bill, like an unwanted surprise party? Do you have kids? Would you like to help them now? Or would you like to have a surprise inheritance or a surprise tax bill? Once we align on your goals, we can help you make smart decisions about asset allocation, tax planning, and how to make the most of your time and money.