Systematic Withdrawals

Systematic withdrawals let you withdraw a set dollar amount from your account on a monthly, quarterly, semiannual or annual basis. You can receive these withdrawals by:

  • Check
  • Automatic payment to a bank account (ACH)
  • Transferring funds from one account to a cash (money market fund or Insured Bank Deposit Program) account, traditional or Roth IRA, SEP IRA, or margin or loan account

Three primary reasons for setting up systematic withdrawals include:

  1. To help meet living expenses (usually when you're retired)
  2. For tax planning purposes
  3. To comply with mandatory retirement plan withdrawal rules (required minimum distributions) after reaching age 70½

To learn more about systematic withdrawals, please contact your local financial advisor.

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