Ready to spend retirement savings? What to know about a formula for safe withdrawals [USA TODAY]
Abacus Life, Inc. - Class A (ABL)
Company Research
Source: USA TODAY
The standard rule-of-thumb is the so-called 4% rule , a retirement withdrawal strategy that suggests retirees can safely withdraw the amount equal to 4% of their savings during the year they retire and then adjust for inflation each subsequent year for 30 years. But it might be better to have a more tailored formula based on your health, potential lifespan and family history, some experts say. It would better ensure you're both enjoying your money and making it last through retirement, they say. The 4% rule's based on the traditional 60/40 (60% stock/40% bond) portfolio and aims to keep people from running out of money. However, the rule came under scrutiny after the 60/40 portfolio in 2022 had its worst year since at least 1937 as inflation soared and interest rates rose. Even Bill Bengen, the 4% rule's creator, has said his rule is no longer relevant . Instead, he said retirees should cut their spending and lower their withdrawal rate, The Motley Fool reported in 2022. The
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- 10/24/24 - Northland Securities
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- 12/18/24 - Form 4
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