Retirement Withdrawal Strategy – Which Account to Pull From First

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Which account should you take your money from first when you retire? That’s a question we get all the time when meeting with new people, and depending on what you do, it could potentially either save you or cost you thousands of dollars in retirement income and taxes.

Let’s talk about the different strategies you can use to determine which accounts to pull money from first and how to keep your taxes down as you do so. Our goal is to help you keep as much of your own money as possible in retirement and this discussion could go a long way towards helping you achieve that.

Here's what we cover in this financial video:
0:00 – Intro
0:39 – The 3 tax buckets you need to understand first
4:25 – 3 common approaches people use to withdraw money
6:37 – The more strategic approach we often use
7:17 – Why we look at where you should pull from last
8:30 – Using tax cylinders to get you to a certain tax bracket
10:37 – Trying to keep your taxes as low as possible early on
13:30 – A story from a recent client (a hypothetical example)

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