The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

Listeners are encouraged to seek out their own advisors in these areas.

Hello, everyone. Welcome to the Big Picture Retirement Show. This is the podcast for anyone who is planning for or living in retirement.

I'm Devin Carroll, and joining me again today is Brandon Renfro. Hey Brandon. Hey, Devin. So Brandon, last week, we started having this conversation

about retirement income distribution strategies. How do you properly take your

dollars that you save for retirement and convert that to an income stream in a way that's both

tax efficient and where you're not going to run out of money too, right? Yeah. Which according to

multiple surveys that's been conducted in the retirement community. The number one fear

that retirees have is running out of money. So we want to help our listeners make sure

that they don't run out of money and that they manage their retirement income distributions

in a way that is safe but also tax efficient to keep Uncle Sam from taking as large of a bite-out as possible.

So we talked about some of the nitty-gritty details in last week's episode where we talked

about a couple of different strategies. The first was depleting a taxable account first,

and then along the way you're doing conversions on your tax deferred account, doing a

partial Roth conversion that is, over to the Roth IRA and kind of taking that tax burden,

paying some of it now, but then later on being able to access those Roth IRAs that's tax-free.

A beautiful thing, right?

Yeah, essentially let you level out your tax rate that you're paying instead of getting hit with some high tax rate later.

You can spread it out over those lower tax brackets over a longer period.

Absolutely.

And then the second thing we talked about was another method.

And that this only applies for certain people.

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