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Q&A: "I'm About to Turn 65 and Have $400K in an IRA, Plus a Couple of Pensions and Social Security. How Much Can I Draw Down on the IRA to Last Until I Am 90?"

Question and background: I'm just about to turn 65 and have not worked for just over two years. I have about $400K in an IRA in addition to a couple of pensions and social security. How much can I draw down on the IRA to last until I am 90? I am drawing from two different pensions of $800 and $2000 per month. I am about to start taking Social Security of about $2300 gross. My wife is still working and will be for another year. She earns $12-20K per year. Is 90 a bit optimistic? Yes, but family history says plan on it.

Retirement Accounts Retirement Income Social Security Tax

Q&A: "I Must Begin My Required Minimum Distributions (RMDs) This Year...Should I Take It Equally From All Three Funds Or All From The Income Fund?"

Question and background: I must begin my RMD distributions this year. I have $700,000 in my IRA (traditional). It is divided into 3 Fidelity funds: FFFAX $400,000 (Income Fund), FFFCX $200,000 a 2010 Fund, FLPSX $105,000 (Low Price). Should I take the distribution equally from all 3 or take 100% from the income fund to let the others "grow"?

Investment Retirement Income Tax