Living in Retirement: Have a Solid Withdrawal Strategy
Understand how withdrawals impact your savings
It's important to have a strategy for your withdrawals so that you can help your savings last through retirement. As you enter retirement, you may start withdrawing from your savings in order to provide a stream of income. Also, if you have a Traditional IRA or other tax-deferred retirement account, there are mandatory withdrawals known as minimum required distributions (MRDs), once you reach 70½. Learn more about MRDs.
With all these withdrawals, it's important to be strategic so that your savings can last. You may want to consider reinvesting a portion of your distributions. Also, your withdrawal strategy should factor in tax considerations so that you can make informed decisions about which accounts to withdraw from first. Be sure to:
- Understand withdrawal tax considerations.
- Prepare for required withdrawals from your accounts.
- Consider consolidating your savings to help manage withdrawals.
Income Diversification (PDF)
Learn about creating a plan to support your lifestyle in retirement.
Next steps to consider
Start the process of withdrawing from your Fidelity IRA.
See how our Retirement Distribution Center can help you calculate and manage your MRDs.
Keep tabs on your portfolio and make sure it continues to stay aligned with your retirement goals.