It's a common question in good economic times (remember those?) and bad: How much can retirees safely withdraw from their nest eggs without eventually running out of money?

Echoing the advice of many in his field, certified financial planner Greg Plechner told a retirement forum in New Jersey last week that a 3 percent-a-year withdrawal rate is very good, 4 percent is good, and 5 percent is “OK but pushing it.”

What to sell, what to keep? Plechner suggests holding onto whatever might be subject to high taxes, for as long as possible—and first selling whatever might be subject to little or no taxes. Start with any required minimum distributions from tax-deferred accounts after you pass age 70.5. Following that, tap (in this order):

1.    Investments with losses in taxable accounts.
2.    Investments in taxable accounts with little or no gain or loss—like cash.
3.    Money in taxable accounts that qualifies for favorable long-term capital gains treatment.
4.    Money in taxable accounts with short-term gains, or in tax-deferred accounts with relatively small gains.
5.    Retirement accounts subject to high taxes.
6.    And finally, money in those very desirable Roth IRAs and Roth 401(k)s—where you might eventually be able to withdraw the money and owe no taxes.—Warren Boroson

Guest contributor Warren Boroson is the author of more than 20 books, including “How to Pick Stocks Like Warren Buffett” (J.K. Lasser).