Most Seniors Wait Until This Moment to Tap Their Retirement Savings
The purpose of socking funds away in an IRA or 401(k) plan is to ensure that there's enough money to go around during retirement. But many seniors aren't tapping their nest eggs until they absolutely have to.
In fact, about 80% of retirees aren't touching their IRAs or 401(k) plans until the time comes for them to take required minimum distributions, or RMDs, according to new research by J.P. Morgan Asset Management and the Employee Benefit Research Institute. But is that actually a good thing?
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Source Fool.com
