Retirees Struggle with How to Spend Their 401(k) Savings
Many retirees are unprepared for managing their retirement savings, according to a study by the Nuveen and TIAA Institute. Only 19% of late-career workers have thought extensively about how they will withdraw funds from their 401(k)s. Financial advisors emphasize the need for structured withdrawal plans before retiring.
Topics: 401(k) withdrawals financial planning retirement savings