4% Retirement Spending Limit

Hi Folks,

Just a friendly little reminder to all retirees:  

Most retirees have been advised that to ensure we will not run out of money during our retirement years we should not withdraw more than 4% of our retirement savings annually. 

According to a December 3, 2009 article in Financial Planning ( http://www.financial-planning.com/ ) almost half of all households over age 65 are drawing more than 4% of their retirement income in order to maintain their standard of living. The article, by Ruthie Ackerman, stated that “if this trend continues retirees may find that their income may not be sufficient to last throughout retirement.” 

Scary, huh? 

The New Year is fast approaching so now would be an excellent time to check your spending plan to ensure you are staying within your 4% limit.

Woody

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