You've recently informed your employer that you are ready to retire. After celebratory cake, some fond farewell speeches from your co-workers, and maybe a small retirement present, you have received the final paycheck from your employer and are ready to soak up the sun in retirement.
You are proud of the accumulation of wealth in your retirement accounts, and after the paycheck (see what we did there?) stops, you realize... YOU HAVE NO IDEA HOW TO ACCESS THE MONEY IN YOUR RETIREMENT ACCOUNTS!
In this episode, Sam and Adam provide details for figuring out just HOW to flip the switch on your retirement - from contributing to your accounts, to accessing it. Five things Sam and Adam discuss:
How do you request a withdrawal from your retirement accounts (401(k)s, IRA, Roth IRA, 403(b), etc.)
How much are you allowed to withdraw at a time?
What are the tax implications for what you withdraw?
Is there a particular type of account you should withdraw from first?
Can you adjust the amounts you withdraw per month/year?
It's the D.I.Y. (do-it-yourself) method to retirement planning! Have questions or comments? Fill out the form below and let us know!