Retirement Withdrawal Plan for Your Future

By Brent Meyer — SafeMoney.com Founder & Editor Reviewed by Licensed Financial Professionals  |  SafeMoney.com — Trusted Since 2011  |  Updated Regularly Quick Answer: Discover essential strategies for a retirement withdrawal plan. Secure your future with safe money alternatives. Learn more at SafeMoney.com. Key Takeaways Establish a clear withdrawal strategy to ensure your savings last throughout retirement. Consider fixed annuities as a reliable source of guaranteed income. Utilize retirement calculators to project your financial needs. Diversify your investments to balance risk and secure your retirement funds. Consult a SafeMoney certified advisor for personalized withdrawal strategies. Life in the work lane means keeping your nose to the career grindstone. You work hard over many years , balancing work and family while accruing a comfortable nest egg for your retirement.   Along the way, you probably benefited from the discipline and focus that comes from working with a financial advisor. Their guidance was helpful in growing your portfolio and other assets to where they are now. This life stage is called the “accumulation phase,” and its long-term priority is with the growth of your financial assets. Yet it’s just as important to plan for the backend, or when you start drawing on your nest egg for retirement income. After all, life changes quite a bit when you retire. Your sources of income will change once you hit the golden years, whether you were a full-time executive, you ran your own business, you worked in a government capacity , or you steadily climbed the ranks as a salaried employee. And not only that. There is also the matter of “distributions” from your portfolio. Withdrawals have tax implications, especially if money is taken from accounts or vehicles that had special tax treatment as you accumulated funds within them. And don’t forget the question of longevity , which poses the potentially costly risk of outliving your retirement money. With the numbers of people living to their 90s, and even to 100-and-beyond , increasing by the year, there runs the possibility of a nest egg being mismanaged for long-term income needs. Better to Plan Now Than Later Ask almost any retired person about when to start making retirement planning a priority, and they would tell you, “You need to think about it now!” For mature working-age investors, that benchmark often begins at age 50. It’s a point at which to think about and pl