What’s the Right Way to Start Retirement Withdrawals?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 25 July 2025

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	This episode is brought to you by SmartVestor.
0:07.9	Connect with an investing pro near you at ramsysolutions.com slash smartvester.
0:13.6	All right, let's go to Anna, who's joining us in St. Paul, Minnesota. Anna, how can we help?
0:19.2	Thank you for taking my call. We did the baby steps. We have no debt.
0:26.2	We're less than a month away from my husband's retirement. Now we want to use our 401K as part of our
0:33.5	retirement plan, but we just don't know where to go and whose advice to trust, and we don't
0:38.3	want to run out of money. Yeah, it's a good fear. How old are you guys, Anna? I am 60 and my husband's
0:45.5	almost 67. Oh, great. Okay. How much do you guys have in your 401K? It's just a little over
0:53.6	$450,000.
0:55.0	100. Okay, 450. And is that all the retirement you guys have or do you guys have a rough IRA or anything else?
1:02.5	I have a little, but not very much. I didn't work very much. Okay. And any other accounts,
1:08.5	or is that the 450, which you guys will be living on?
1:11.8	That is it.
1:12.9	So the, well, and their Social Security, and I do some odd jobs.
1:18.3	Okay.
1:18.7	Okay.
1:19.7	Do you guys, have you guys run a budget on how much household expenses and all of that?
1:24.8	You need a month?
1:26.3	Yes.
1:26.9	Okay.
1:33.2	Between about 42. expenses and all of that, you need a month? Yes. Okay. I, between about 4,200 at month.
1:37.3	42. And how much do you guys get from other funds like Social Security and all of that?
	...

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