Retirees Who Do This With Their Savings Could Run Out of Money Years Sooner
It's an all too common trap many people fall into.
Retirees Who Do This With Their Savings Could Run Out of Money Years Sooner
Overview
For many retirees, the biggest fear isn't a health event -- it's the possibility of outliving their money. And if you make a habit of dipping into your retirement savings at random instead of having a strategy, you could end up with $0 to your name with plenty of years left on the planet.
For this reason, financial experts strongly encourage savers to come up with a strategic withdrawal rate based on their asset allocation, income needs, and retirement timeline.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
