AI-assisted summary

When supplementing Social Security income in retirement, consider the tax implications of withdrawals from different accounts.

Tax-deferred accounts like 401(k)s and traditional IRAs are taxed at your ordinary income tax rate, while Roth IRA withdrawals are tax-free.

Managing withdrawals strategically can minimize taxes on Social Security benefits and Medicare premiums.

Q. and will be collecting Social Security, but I’ll need to supplement my income. I have funds in both a retirement and brokerage account. Which one should I draw from first?

A. Congratulations on your upcoming retirement! This is an exciting chapter, though it often brings questions about how to manage your income wisely. . One of the most important decisions you’ll make is where to draw supplement

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