You earned it. Now protect it.
After 65, the financial game changes from accumulation to preservation, distribution, and protection. Three new threats emerge: tax surprises (RMDs), healthcare costs, and targeted fraud. Here's how to handle each.
Your priorities, in order
Take RMDs on schedule, every time
Starting at 73, the IRS requires minimum withdrawals from traditional IRAs and 401(k)s. Missing one triggers a 25% penalty. Set up automatic distributions through your custodian.
Be ruthless about scam vigilance
Seniors are the #1 target for affinity scams, romance scams, tech support fraud, and grandparent scams. Rule: anyone pressuring an immediate decision is a scammer. No exceptions.
Build a Roth conversion ladder
Years between retirement and Social Security/RMDs are usually low-tax. Convert enough traditional IRA each year to fill the 12% or 22% bracket. Future-you will thank you.
Understand your withdrawal rate
4% is the rule of thumb for 30-year retirements. With current valuations, 3.5% is more conservative. Adjust for healthcare shocks and unplanned long-term care needs.
Calculators built for this stage
Recommended reading
Frequently asked questions
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