Wednesday, June 5, 2013

My Smartest Money Move: Taking More From My Retirement



We’re taught to think of retirement savings as a source of last resort — money that we shouldn’t touch until all other resources have been used up. However, given the way the tax rules work in combination with the nature of Social Security benefits, it can often be in your best interest to use your retirement savings (IRAs, 401(k) accounts, and the like) to allow you to delay and maximize your Social Security benefits. Below is a version of a situation that I recently worked through with a client.
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