Do You Have a Withdrawal Plan?

Do you know how much you will need to withdrawal from your nest egg each year in retirement to live the life you want? In other words, do you have a withdrawal plan? A withdrawal plan can be an important part of your retirement plan, especially once you get into retirement. It’s a way to guarantee that your retirement savings last and ensure that you don’t over-withdraw. There are a couple of well-known withdrawal plans out there already. One common plan is known as the 4% rule. With the 4%, you withdraw 4% of your nest egg during your first Continue reading Do You Have a Withdrawal Plan?

Withdrawal IRA Money Without Penalties

Are you getting near retirement age and considering making a withdrawal from your IRA, but don’t want to get hit with a penalty if you do? There are multiple ways to withdrawal money from your IRA. However, most of these methods cannot be done until you have reached age 59½. Such methods for withdrawals without penalties include: withdrawal of excess contributions, required minimum distributions (RMDs), qualified higher education expenses, and first-time home purchases, just to name a few. If you are considering taking money out of your IRA, you should talk with a certified financial planner to make sure it Continue reading Withdrawal IRA Money Without Penalties