Getting the money out



Once I retire in a few months I will have a pension for roughly half my fiscal needs.

Can I get some recommendations on how to draw money from my savings, 401ks, etc to fund the other half?
Will an institution like Vanguard "cut me a check" every month and send it to me?
How do I set that up?
What things should I avoid, and what things should I be sure to do?

Thanks. There is SO much good info here...........
DKRichards, yes, Vanguard does have an automatic withdrawal service. It links to your checking account (or whatever account you want) and you choose the amount, the frequency, the start and stop dates, etc. You can sign up online in minutes. First you must establish a link to your checking account. It is designed for just the type of thing you are describing. Just be sure you are aware of the tax/penalty consequences pertaining to retirement plan withdrawals and proceed accordingly. Also, I'd be reluctant to have automatic withdrawal from accounts that are subject to much share price fluctuation. Perhaps the ST Corp fund would be OK, but I'd want control over when and when not to sell holdings subject to price changes.
Have been using Vanguards auto deposit to my mothers checking account for 9 years, fixed amount monthly from her Lifestategy Income fund. Memory says I did it by mail after calling them up.
If you are using the penalty-free SEPP (72T) provisions, you have to withdraw a precise amount each year. Most folks find it easier to make a single withdrawal in January, and then draw off that during the year.

If you don't need to tap dance to avoid penalties, then ignore this message!
We use Vanguard's Prime Money Market fund in
a taxable account to receive regular monthly
transfers from an IRA account. You can set this
up by calling Vanguard. We then deposit money
from the Prime MM into a bank checking account
as needed to meet expenses. I like to keep the
bank account as lean as possible since it pays no


Charlie (aka Chuck-Lyn)
Thanks for all the info folks, sounds like it's easier than I thought to do what I want.

I will most like stay with Vanguard. They have my company's "Retirement Saving Plan" right now, which is about 90% pre-tax dollars over about 20 years. I believe L'll have to roll the RSP into a typical 401k/Ira and probably put the post-tax $$$s info some sort of investment account.

I have funds at Fidelity, Janus, Invesco, Prudential, etc and plan to do the same: everything into Vanguard. They have been pretty responsive in the past.

The financial planner I spoke to quoted about 1% per annum for funds under his management. I'm sure he does a dandy job, but I think I may just be my own "manager". Anyone see any value in paying someone 1%?
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