February 1, 2016
This week on For Your Benefit listen in as our hosts Bob Leins, John Elliott and their guest, Kristina E. M. Sturgis, CFP® CDFA™ Financial Advisor, NITP Seminar Presenter and Certified Financial Planner™ with Valenstein & Patterson, a financial advisory practice of Ameriprise Financial Services, Inc. discuss distribution planning in retirement.
You’ve worked and saved and saved and worked for decades. At last, you are approaching that magical retirement date. When it comes, many retirees are shocked at how uncomfortable retirement feels- “it’s like throwing it in reverse”. You have trained yourself to invest in your TSP, and never to touch it. Now you need to actively plan and manage how you will USE this accumulated wealth. Yes, you need to develop a SPEND strategy. But not too much, not too fast, and with a well-thought out tax and investment plan. Join the conversation about how to prepare years in advance, various strategies after leaving federal service, and why taxes play such a crucial role in strategy.
- What should I be doing well before retirement?
- How much can and should I spend in a year?
- Can I still take distributions when the market is down?
- Should I start taking from my TSP right away or delay as long as possible?
- Does it make sense to do ROTH conversions? When?
- Am I too old to put money into a ROTH?
- What are some general investment withdrawal strategies to consider for retirees?