Boomers and 401(k) Withdrawals

Last Thursday Franck elaborated on the U.S. law requires anyone age 70 1/2 or older to begin annual withdrawals from their tax-sheltered retirement accounts and pay taxes on those distributions. And how in 2017 the oldest member of the baby boomers will cross this threshold for the first time this month, and over the next two decades withdrawls will hit more than 10 trillion dollars. He also explains the importance of having additional retirement savings plans so that you can survive after retirement.

This podcast is based on the The Wall Street Journal article Pulling Retirement Cash, but Not by Choice.

 

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