Once you hit retirement, the focus shifts from saving to spending, and how you take those distributions can have a big impact on how long your money lasts. You’ve done the hard work of building your nest egg; now it’s time to spend it. But creating a retirement income plan isn’t just about maximizing every dollar. It’s about doing so in a way that aligns with your comfort level and your goals, while considering tax efficiency. The most important part of the process is not losing sight of what matters most: the success of your plan and your peace of mind. 

The Looming Tax Torpedo 

When it comes to retirement income, taxes can get complicated quickly. Withdrawals from different account types (like traditional IRAs, Roth IRAs, and taxable brokerage accounts) are treated differently by the IRS. And it’s not just your federal tax bracket you have to worry