Iris Wealth Advisory, A Registered Investment Advisor Firm
Medicare rules, Social security distributions, long term care requirements, whether you had a HSA or not, or plan to have a HSA will all determine the quality of your life and will also affect the legacy that you can leave behind. The order of withdrawal from your tax deferred, taxable and non-tax accounts can influence your tax rate in retirement. Not using an appropriately designed strategy could lead to disastrous results because you could lose significant sums to taxes or sequence rate of risk due to market volatility. The money that could be inherited by your children or grand children may very well be used up for taxes, or losses due to market volatility if short term, medium term and long-term strategies are not used.