Basics Of A Retirement Income Withdrawal Plan
Published Thursday, March 9, 2023 at: 4:00 PM EST
One of the most important concepts for a pre-retiree or retiree to understand is the difference between withdrawing a set amount of money each year versus withdrawing a percentage of a portfolio’s year-end balance.
Are you going to be annually pulling out a prescribed amount from your retirement portfolio — $50,000 or $60,000, or whatever? Or are you pulling out a percentage -- four, five, six percent or more – every year. The difference between these two withdrawal approaches can make a very big difference in your retirement security and in how much you leave your children, other loved ones, and charity. Choosing the best withdrawal method in your personal situation often depends on whether you want to extract as much income as possible in retirement or prefer to leave as much as possible to your spouse and other loved ones.
To Read the Full Story, Subscribe
or Sign In
This article was written by a professional financial journalist for Fisher Financial Advisors and is not intended as legal or investment advice.
©2023 Advisor Products Inc. All Rights Reserved.