What you don’t know about retirement accounts and taxes will cost you

Give yourself a big pat on the back if you have built up a nice retirement nest egg after years of scrimping and saving.

Congratulations, you’re halfway there.

Many investors are so focused on accumulating wealth that they neglect the second part of the equation — pulling out money so that you don’t deplete it unnecessarily from poor tax decisions.

“We spend years or decades trying to put money into retirement plans,” said Michael Kitces, a financial adviser at Kitces.com. “But how do you get the dollars out and do it in a tax-efficient manner?”

That was the gist of a recent talk he gave to members of the American Institute of Certified Public Accountants and the Chartered Institiute of Management Accountants. Here are some highlights:

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