This Simple Strategy Can Save Retirees Thousands (or More) | Julia Lembcke

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**Julia Lembcke** (1:00)
People have after-tax brokerage accounts, pre-tax accounts, maybe a little bit of a Roth account. And the way that they withdraw those funds, the sequence with which they withdraw the funds, has a huge impact on their total lifetime taxes.
Also, once you hit 65 or even 63 with the Medicare income-related means or the adjusted amount penalty, there starts to be hidden taxes and retirement that you're not used to.

**Adam Taggart** (1:33)
Welcome to Thoughtful Money, I'm Thoughtful Money Founder and your host, Adam Taggart. And I'm very excited for today's video. We're gonna try something new today, folks, something I've been wanting to do for a while. So as regular viewers of this channel know, I produce five videos a week, interviewing top experts on the markets and the economy, and we're largely reacting to what has just happened and trying to make sense of it.
When I can, I really also like to have discussions around the fundamentals and the best practices for wealth building, because at the end of the day, that's what this channel is for. The mission of Thoughtful Money is to help you increase your odds of funding your life goals, and I want to be able to make sure that we impart, again, the best and most time-honored practices for doing so. So that's where today's guest comes into play.
Today, we're very fortunate to get to talk with Julia Lembcke. She is a certified financial planner and managing director at URS Advisory, which services high net worth clients. Julia has a very successful YouTube channel of her own, where she does zero in on a lot of these best practices for wealth building, and we're hoping to inject a little bit of that here in Thoughtful Money. So we're going to do this as a pilot. We're going to talk about a topic that has definitely proved very popular amongst her audience. I think you'll find it very relevant. If you decide you'd like to see more content like this going forward, let me know in the comments section below, and we'll try to put together some sort of regular rotation of that. But with all that laid this groundwork, Julia, thanks so much for joining us today.

**Julia Lembcke** (3:08)
Adam, thank you so much for having me.

**Adam Taggart** (3:10)
It's a real pleasure. I'm really looking forward to today's discussion. Real quick before we get into the nuts and bolts about the topic we're going to talk about, which folks is account withdrawal order.
That might sound a little wonky, but this is basically how to take withdrawals from your funds that you've saved up for retirement as you enter retirement, because it actually makes a big difference. Interestingly, Julia, if I followed your work correctly, the majority of people do this backwards, true?

**Julia Lembcke** (3:41)
They do, very true.

**Adam Taggart** (3:43)
We'll get into what to avoid, what to do right, and the mechanics of it all. But really quickly, Julia, can you just give us a 30-second background about yourself and how you came to be such a public sort of personal finance wealth building guru?

**Julia Lembcke** (4:00)
Yes. Thank you. I graduated in 2009 from the University of Florida. All of you know watching this channel that that was right in the middle of the Great Recession. There were really no jobs, so I had to work in a sales commission job, and so I started doing Medicare planning for folks turning 65
As the years went on, they started asking me more and more questions about their retirement accounts. Back then, 2009 to 2011, people were retiring right around 65 Now, everyone's retiring a lot earlier. It seems to be a newer trend.