You’ve worked long and hard to accumulate the assets that you are using to help finance your retirement. Now, it’s time to start drawing down those assets. Exactly how you liquidate your assets will affect your tax and impact how long those assets last, so it pays to plan a withdrawal strategy that is efficient and maximizes the benefits of different types of investments.
So you’re on the verge of retirement and you’re faced with a difficult choice regarding the defined-benefit pension plan you’re fortunate enough to have: Should you accept the traditional, lifetime monthly payments or take a lump sum distribution? Understandably, you might be tempted to go with the lump sum. After all, it may be the largest single disbursement of money you’ll ever receive. Read More