Stretch Your Savings

Reprinted from PN May 2011

More Ways to Help Stretch Your Savings

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More Ways to Help Stretch Your Savings

- Don’t overspend early in your retirement.

- Plan IRA distributions so you can preserve tax-deferred growth as long as possible.

- Postpone taking Social Security benefits, to increase payments.

- Adjust your asset allocation.

- Adjust your annual budget during years when returns are low.

Tax Considerations

- Prolonging your savings may require attention to tax issues. For example, how will higher withdrawal rates affect your tax bracket? And does your withdrawal rate take into account whether you will owe taxes on that money?

- If you must sell investments to maintain a uniform withdrawal rate, consider the order in which you sell them. Minimizing the long-term tax consequences of withdrawals or the sale of securities could also help your portfolio last longer.


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