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I’ll have several sources of retirement income. Where should I withdraw the money from first?

Some of your retirement accounts may have minimum distribution requirements – usually starting at age 70 ½ – and that can influence where you withdraw the money from first. But there are other factors too, like investment performance and tax implications. Here’s a common liquidation order:

  • Taxable accounts
  • Tax-exempt / municipal accounts
  • Roth IRAs
  • Tax-deferred accounts

While this is a common order to take the money, talk to your tax advisor before you make your final decision because your specific situation will dictate what you should do.