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Epstein and White Retirement Income Solutions
Bradley White is vice president of Epstein and White. He's a Certified Financial Planner™ and has a bachelor's degree in finance from San Diego State University. He's an Investment Advisor Representative (IAR) with his Series 66 license and an insurance professional. He has appeared on local television, Fox News and CBS, the Big Biz Radio Show with Dave Sully and as the cohost every weekend of Retire Right with Epstein and White on KOGO/600 and KFMB/760.
Chances are a big portion of your retirement savings are in pretax accounts like a 401(k) or IRA. If you need to tap those accounts for costly care, you must realize that every dollar is taxable. And you might be shocked at the tax rates that come with withdrawals large enough to foot the bill.
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Should you take your pension as a lump sum? That's the first thing people tend to ask, but it shouldn't be the last. Here are five important points to consider before making any moves.
Unlike working people, retirees have a lot of options to determine how much they'll pay in taxes. Knowing which income buckets to pull from can mean a difference of thousands on your tax bill.
The longer you wait to start receiving payments, the bigger your monthly check. But here are other factors you’ll want to consider.
Before you can reach your lump sum goal, estimate the income required to support the retirement you want.