Reported 2 days ago
T. Rowe Price's study highlights that traditional retirement withdrawal plans, which suggest taking from taxable accounts first, might lead retirees to incur unnecessary tax liabilities. By altering the order of withdrawals, such as tapping into tax-deferred accounts earlier, retirees can lower their tax burden, extend their portfolio's life, and increase the after-tax value passed on to heirs. The analysis suggests this approach can lead to considerable savings and enhance estate planning efficiency.
Source: YAHOO