Your retirement paycheck: Documenting sources of income for retirement
In this video, we discuss ways you can document income sources as part of your retirement plan. Watch now to learn more.
What to read next...
Figuring out how much income you’ll need in retirement is a key step in creating a financial plan for retirement. You can start by analyzing what you’re likely to spend money on, including health care costs, as well as factoring in the effects of inflation.
If you’ve taken RMDs in the past or if you’ve just turned 70½, read about some important things you’ll need to know about these mandatory withdrawals.
There are rules that dictate the timing of distributions, which distributions are taxed, and which ones are subject to a penalty. To make the process a little clearer, consider the basic rules surrounding Traditional and Roth IRA distributions.