I am about to retire, I have a 401(k), an IRA, an annuity and a small pension. What is the best way to start taking distributions?
Answers | 4
As you can see, there is no shortcut or easy answer to your question. Your retirement "party" may last 20 or 30 years. Don't try to plan for that party on the back of an envelope. This is the biggest party you will ever throw. It will affect the most other people. It will be the most expensive. It will be the most complicated. This is not a party you should try to plan quickly or totally by yourself. Seek the counsel of a professional financial planner. Make sure they are in a position to provide you with unbiased planning advice, not just sell you products or investment management services.
Clearly if it only enough or not enough you must use them all for retirement as deferral doesn't work for you. If your retirement choices provide you more than enough money, then you look at where the money sits and what it earns for you. There actually isn't a stock answer that you do no matter what, it simply depends on how much money you need for retirement needs.