5 Common Mistakes with Your IRA and 401K That Could Leave You with a Fraction of Your Retirement Savings

Published on: Jul 31, 2021

You’ve been contributing to an IRA or 401K for years maybe even decades! Putting money into these accounts is easy but withdrawing this money in retirement is complicated. You haven’t paid a dime in taxes on this money yet, and Uncle Sam wants his cut as soon as you start taking withdrawals. If you don’t have a withdrawal strategy, you could make a critical mistake that could end up costing you a fortune.

In this episode, we share 5 common mistakes retirees make with their IRA and 401K, here are the first three: 

  1. Not having a withdrawal strategy for your IRA/401K.
  2. Not preparing for higher taxes tomorrow and future years.
  3. Not having a plan for Required Minimum Distributions (RMDs).

Host Ben Christy interviews Beacon Capital Management’s Senior Partner and Co-Owner, Pete Benson, and CEO and Co-Owner Jon Maxson, for this episode of the Beacon Retirement Strategies Radio Show: 5 Common Mistakes with Your IRA and 401K That Could Leave You with a Fraction of Your Retirement Savings

A defensive tax strategy could save you a SIGNIFICANTLY in retirement. If are unsure what your tax strategy looks like, we highly recommend you take advantage of our FREE, Retirement Tax-Savings Analysis. 

Also, download our FREE TAX-SAVINGS GUIDE to learn about the four steps you can take to put yourself in a position to save money on taxes in retirement.

Pin It on Pinterest

Loading...