Over the next 20 years a record of $17 Trillion will move from pension and 401(k) accounts into the hands of new retirees.
The problem is that most recipients are not prepared for the change in landscape from accumulating and saving to spending.
Be careful: Many denizens of the deep out there are salivating at the idea of helping you determine how to spend it.
Probably the first thing that you will need to determine may be among the simplest, but the most daunting if you make the wrong choice, is to determine whether to take a lump sum distribution or payments over time.
Yours truly isn’t going to give you the answer, as everyone’s go-forward situation is different, but finding and cherishing a trusted CPA would be a good step in the right direction (and not one who also doubles as an investment advisor or money manager) – too tangled a web they have!
More later.
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