August West
Dryer sheet wannabe
I am currently 60 and plan to retire within the next 1-2 years. When I do retire, I am at a loss as to what order I should begin withdrawing funds from my various accounts. Hopefully, most of the withdrawals should be interest/gains and little principal, dependent on how the market behaves but I'm sure there will be years when the principal will need to be tapped.
Currently, my assets are split up as shown below. Most of the 22% cash will be put into a yet to be determined investment in the very near future. I will need about 25% of my total funds in 1-2 years to finance my retirement home in another state which should begin construction in late 2016 or 2017.
Current 401k - 2%
Rollover from previous 401k - 28%
Regular Investment acct - 14%
Roth IRA - 3%
Cash - 22%
CD - 15%
Precious Metals - 16%
Can somebody please direct me to a resource which discusses strategies for post retirement withdrawals/spending from the various investments which are available. While I've done OK over the years investing the money I am clueless on the best course of action when I do retire. I can see this is going to get pretty confusing trying to figure out the best strategy.
Thanks!
Currently, my assets are split up as shown below. Most of the 22% cash will be put into a yet to be determined investment in the very near future. I will need about 25% of my total funds in 1-2 years to finance my retirement home in another state which should begin construction in late 2016 or 2017.
Current 401k - 2%
Rollover from previous 401k - 28%
Regular Investment acct - 14%
Roth IRA - 3%
Cash - 22%
CD - 15%
Precious Metals - 16%
Can somebody please direct me to a resource which discusses strategies for post retirement withdrawals/spending from the various investments which are available. While I've done OK over the years investing the money I am clueless on the best course of action when I do retire. I can see this is going to get pretty confusing trying to figure out the best strategy.
Thanks!