Planning for Retirement in Bennington, Vermont

Optimizing retirement savings while living in Bennington, Vermont.

Approaching retirement is an exciting time. It can also be quite stressful, as you realize you may be about to start withdrawing from the funds that you have been contributing to for so long.

Often, by the time Vermonters reach retirement, they have assets spread across all different accounts, including: 401ks, 403bs, Traditional IRAs, Roth IRAs, brokerages, inherited IRAs, pension plans, and more. Just as each type of account can have its own rules for contributions, each type can also have its own rules for withdrawals.

Knowing when and what to withdraw from each account can help you save on taxes, avoid penalties, and can help optimize the performance of your money over the long run.

When to start receiving Social Security benefits is another consideration as you head towards retirement. You can read more about the taxes surrounding Social Security benefits here.

If you are in Bennington, Vermont and are approaching retirement, we encourage you to reach out to a One Day In July advisor to set up a free consultation. One Day In July was founded with the mission of lowering people’s investment fees, while helping them to optimize their investment portfolios. We can work with you to create a retirement plan that fits with your current financial situation, and your long-term goals.

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