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Russell K. Jalbert CFP^®

The Smart Retirement Income Strategies

To minimize taxes, first start withdrawing required minimum distributions from your tax-deferred retirement accounts (if you're 70 or older). Then begin withdrawals from other accounts in this order:

1. Taxable investments with losses.
2. Investments in taxable accounts with little or no gain or loss, such as cash.
3. Money in taxable accounts which qualifies for long-term capital gains treatment.
4. Money in taxable accounts with short-term gains or in tax-deferred accounts with relatively small gains.
5. Retirement accounts subject to ordinary income taxes.
6. Money in Roth IRAs and Roth 401(k)s that are not subject to tax. Tax rates might rise, so keep these gems as long as you can.