As the title says, how does this work ? Does one simply receive what they put in? For example, if a person has 100k when they retire at 67, does the retirement company choose an estimated year of death and divide the 100k by the number of years? Are there levels, for example if you retire with 100k, you receive this amount a month? Are distributions distributed like social security?
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You choose how much to take out and when.
When you take money out; it counts as income and you’ll owe taxes
Leaving money in keeps the tax protections on dividends,interest, capital gains
It’s not worth worrying too much about unless retirement is close….tax laws and withdraw regulations are subject to change over the next few decades (as they always are)
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