In today’s video, Rebecca asks an important question about retirement planning: With four different investment accounts- her 401(k), IRA, Roth IRA, and individual account- she’s wondering which one she should withdraw from first when she retires next year and needs income.
While many people default to withdrawing from their largest account, often the 401(k), without considering potential tax implications, Frank explains that the decision isn't necessarily about the size of the account. It’s about understanding tax strategies and how different withdrawal approaches could impact your income.
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What is a Roth IRA conversion? A Roth IRA conversion is the process of moving IRA or employer plan assets to a Roth IRA.
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