Retirement distribution specialists can work for brokerage houses and investment firms and are available to help their clients or their representatives’ clients plan for the ultimate withdrawal of their retirement assets. Some have designations (examples include Certified Retirement Services Professional, Certified Specialist in Retirement Planning, or Retirement Income Specialist) and many do not. Most people might never use one if they have a fairly simple situation but many do seek the advice of professionals, including their CPA or financial planner, to help them with complicated tax and withdrawal issues of retirement distributions. Make sure that the person you do work with is very knowledgeable in the area and has significant experience in tax, estate and beneficiary planning. If you would like to learn a little more about the rules, opportunities and pitfalls of retirement distributions, two very respected national industry speakers (and authors) in this field of tax and financial planning are Ed Slott and Natalie Choate.

Traditionally financial advisers have focused on assisting clients with wealth accumulation and investment allocation; all important means for planning for a successful retirement. Building a truly comprehensive financial plan includes developing strategies for retirement distribution, or a systematic means for accessing the money you have been saving and investing when you need it. If you are working with a Certified Financial Planner professional, that individual has been trained in retirement distribution planning and includes that as a part of their comprehensive financial planning services. There are numerous titles that you will encounter in the financial services industry, but only a few require extensive postgraduate classes, examinations to determine profiency and continuing education. The term “retirement distribution specialist” will likely be used by an adviser who is also providing comprehensive financial planning. Accessing your hard-earned savings and investments in a welldesigned process that will provide you with a stream of income for your lifetime is really the critical part of any financial plan, but must be developed in conjunction with a wealth accumulation strategy. A true “retirement distribution specialist” would provide comprehensive financial planning services and not focus on just the distribution strategies.

A retirement distribution specialist is someone that will help you maximize the tax savings and other tax consequences of taking distributions from qualified retirement plans such as 401(k)s, 403(b)s, and IRAs. Many times when people need to take distributions from their retirement plan they have several options. Also when someone inherits qualified money they also have several distribution options. A specialist in this area will help you pick the best distribution option based on your tax bracket, income sources and needs and age. You would need one when you are forced to take a distribution from a qualified account and are looking to minimize the taxes from that distribution. You can go to a CPA, a CFP or other specialists that have qualifications in the tax area to help you make your choice. Usually what drives most people’s decision revolves around whether or not they need income and how much they need. The biggest savings usually come from stretching the distribution time of an inherited IRA over a lifetime instead of a lump-sum or five-year distribution. As with all major economic decisions, make sure you consult professional help.