I'm 75 and retired. I have about $650K in a Roth and $98K in an IRA. My wife (age 73) has $900K in a Prudential annuity and $91K in an IRA. We also have $100K in other securities. We're going to start taking money out for general use. In addition to our RMD, which is the best account to start drawing from?

Terry Says:

That’s a big question, and it really requires the services of a financial planner to look at all the assets.  Especially the annuity, which may have certain terms regarding withdrawals.  And it also depends on your beneficiaries — how much you want to leave them, and in what format.  I suggest you ask Jeffrey Oster, my annuity expert, what to do with the Pru annuity (email:  Jeffrey.Oster@raymondjames.com).  But I would also seek a Certified Financial Planner — fee only.  If you’re in the Chicago area, I’m comfortable with Sharon Egan, former president of the Financial Planners Association of Illinois (email:  segan@nsinvest.com).  Or if you’re elsewhere go to www.feeonly.org — the website of the fee only planners association.

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