Drawing Income - Thursday May 5

Building on yesturdays tip to look at the order you should draw on your various sources of income. This involves determining which assets and benefits to use, and when to use them. One school of thought is to draw on the least flexible and least tax efficient assets first to make up your base income. This would allow you to reserve the variable and/or tax favoured sources as discretionary in order to manage income and taxation levels at different stages of retirement.