Retirement Risks: Excessive Withdraw Risk
Withdraw rates may be excessive, not enough or just about right.
One common question for retirees is: How much can we withdraw from our investments for living expenses throughout our retirement?
Have you ever noticed how we come up with simple, one-size-fits-all answers to life’s complicated questions? One example is that you may have been told that you can withdraw 4% from your investments every year to pay retirement living expenses. To quote my teenage kids, ”Really.” No matter how your investments are performing or not performing? No matter that you may live to the wonderful age of 95, or more? No matter that 50% of our healthcare expenses occur during the last five years of our life? So, you can withdraw the same percentage of your investments and be okay?
Obviously, you need a more personalized solution. A solution that considers your expenses, your income sources, your health, your coverage and benefits, your legacy desires. A solution that considers YOU!
How much can you withdraw from your investments for retirement living expenses without your assets vanishing before you need them?
Maybe we should sit down for a consultation.
Hopefully this information about the risks of excessive withdrawals has helped you to consider all of your choices regarding your retirement needs versus your assets.