Making your first retirement account withdrawal is like achieving most other financial milestones; it requires organization and planning. Read Next: Major 401(k) Change Coming in 2026 — High Earners Must Act Now For You: 5 Clever Ways Retirees Are Earning Up To $1K Per Month From Home Planning ensures retirees withdraw with the intention to minimize taxes and avoid penalties. Preparing ahead also helps preserve savings, reduce tax burdens and make the most of retirement income. Here are three things reti ...