Congratulations! You have just retired with $1.4 million dollars in your 401(k) plan- You will be receiving a fairly large Social Security check and you have adequate personal savings outside of your 401(k) to live on for several years- You don't want to lock up your retirement money into an annuity because you want to be flexible for the future- What would be your best option?

Retirement planning refers to financial strategies of saving, investments, and ultimately distributing money meant to sustain oneself during retirement. Many popular investment vehicles, such as individual retirement accounts (IRAs) and 401(k)s, allow retirement savers to grow their money with certain tax advantages.