Before you start taking withdrawals from your tax-deferred accounts, you need a plan for how much to take and when to take it, to be sure that you are: Providing enough income to meet your financial needs, continuing to take advantage of tax-deferred growth and withdrawing the required minimum after you turn 701⁄2 that case, you receive a regular monthly payment that’s usually a fixed percentage of your account value and ensures you’ll withdraw at least the required minimum and perhaps some principal. During your working life you may
 have participated in several employer plans and opened a number of IRAs. Knowing where those accounts are and what they’re worth takes on even greater urgency as you turn 701⁄2 and must begin required minimum distributions (RMDs) from tax-deferred accounts. (Distribution is the official term for what are more commonly known as withdrawals that you take from these plans.) Consolidating your IRA accounts with a single custodian may be a smart move. It may save you money if you’re paying annual account maintenance fees to different custodians. More important, it means that all the information you need on your account values and the way those accounts are invested is contained in   Read more…