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Which accounts to spend first?

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AUTHOR: Jackie on 6/28/2024

My husband and I are new retirees, age 63 and 61.  Fortunately, we have enough savings to wait until 70 to collect SS, but this means we need to spend from our savings to cover living expenses.  Which should be spent first? Taxable accounts or 401Ks (we have about 65% of our assets in tax deferred 401Ks, most of the rest is in regular taxable accounts, and some in Roth accounts.  Obviously we are saving the Roths and doing some conversions, but which type of account should we use for living expenses?

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