Retirement Income Strategies: IRA vs. Brokerage Withdrawals (The Tax-Smart Choice for Retirees)

Mark asks a common question – What should I do regarding my withdrawal strategy? Should I first pull from my brokerage account or my IRA? There is no one-size-fits-all answer, but James provides a framework for creating a strategy to increase your odds of getting the most out of your money saved. He walks through the pros and cons of first pulling from your IRA versus a brokerage account, taking into consideration required distributions, tax rates and strategies, capital gains, Roth conversions, tax gain harvesting, and charitable giving. Questions answered: What are the tax implications of giving to family members versus charities? How should capital gains affect my withdrawal and tax strategy? Timestamps: 0:00 - Mark’s question 3:12 - Pros of pulling from IRA 7:24 - Lower tax rate today 9:27 - Cons of pulling from IRA first 11:38 - Charitable giving 13:58 - Pros of brokerage pulls 18:40 - Other potential pros 21:39 - Cons of pulling from brokerage 26:03 - Things to consider 30:50 - Wrapping up Create Your Custom Strategy ⬇️ Get Started Here. Join the new Root Collective HERE!