If you’re 65 with $900,000 and no pension, the income your portfolio can provide depends on how much you withdraw and the number of years your savings need to last. Taking too large a withdrawal early in retirement could increase the risk of running short later, while spending too little may unnecessarily limit your lifestyle. Finding a sustainable monthly withdrawal rate can help balance current spending for a longer retirement.
Why a Big Savings Balance Won’t Guarantee a Long-Term Paycheck
Your retirement account statement shows how much you have saved, but not what you can spend each month. Without a pension, your retirement income likely…
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