The Complete Retirement Planner Blog

What Is A Good Withdrawal Rate For Retirement Savings?

I've come across several articles recently, and web site calculators (ugh, more calculators that mislead you, and don't work!), that offer guidance on an appropriate withdrawal rate for retirement savings. To keep this simple, let's only consider savings currently in a 401K plan, or traditional IRA. The basic question is, "How much should you withdraw from these savings, annually, during retirement so that you won't run out of money?". Let's consider two main scenarios: 1) If you know that you have more than enough money to sustain you (lucky you, but you better be sure!), then the real question is,...

Read more →

When Should You Start Planning For Retirement?

Any professional financial adviser will tell you what you've already heard elsewhere a thousand times - start saving as early on in your career as possible. Save as much as you can, invest it wisely, and do both consistently. This is, of course, to help you to be financially responsible, and to develop financial security for the future. While this is great advice, it is missing an essential piece. Along with saving and investing, you need to create a financial retirement plan to compliment those efforts. After all, part of what you're saving for is retirement! A retirement plan is...

Read more →