Retirees Waiting to Tap RMDs

Behavior in retirement has been pretty, pretty, pretty good! A research paper from JP Morgan Asset Management shows most people aren't tapping retirement accounts until they reach RMD age (80%) and even then, they are taking the minimum (84%).

What many retirees don't evaluate is how much they should be taking out. The RMD tables were never designed to determine the appropriate distribution. This can even lead to retirees doing without and hoarding wealth at the expense of their current quality of life. Working with an advisor can help set clients nerves at ease and create a more sound decision for retirement income than an RMD table.