I’ve worked hard to save about $500,000 for retirement, and now I’m ready to turn my savings into a paycheck. But how much can I afford to withdraw from savings and spend is what I don’t know. If I spend too much, I risk being left with a shortfall later in retirement. But if I spend too little, I may not enjoy the retirement I envisioned. What’s your advice on this please?
stay flexible - If the market performs poorly, you may not be comfortable increasing your spending at all. If the market does well, you may be more inclined to spend more on some ''nice to haves''
Personally, I used the 4% rule as a guideline, didn't follow it precisely. For greater level of confidence around portfolio longevity and ability to meet my goals, I use a well experienced advisor. In a nutshell, I'm semi-retired and only work 7.5 hours weekly since getting fully invested in the markets for 5 years now, amassing about $1.3m so far, after subsequent investments.
@@marlene_orja such an eye opener! never heard or used the 4% rule, I spend what I want and when I want, however i'm interested in supplementing my streams of income by investing, mind if i look up your advisor please?
Annette Louise Connors is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I’ve worked hard to save about $500,000 for retirement, and now I’m ready to turn my savings into a paycheck. But how much can I afford to withdraw from savings and spend is what I don’t know. If I spend too much, I risk being left with a shortfall later in retirement. But if I spend too little, I may not enjoy the retirement I envisioned. What’s your advice on this please?
I'd highly recommend using the 4% rule, maybe you'd know just how much to spend after retirement
stay flexible - If the market performs poorly, you may not be comfortable increasing your spending at all. If the market does well, you may be more inclined to spend more on some ''nice to haves''
Personally, I used the 4% rule as a guideline, didn't follow it precisely. For greater level of confidence around portfolio longevity and ability to meet my goals, I use a well experienced advisor. In a nutshell, I'm semi-retired and only work 7.5 hours weekly since getting fully invested in the markets for 5 years now, amassing about $1.3m so far, after subsequent investments.
@@marlene_orja such an eye opener! never heard or used the 4% rule, I spend what I want and when I want, however i'm interested in supplementing my streams of income by investing, mind if i look up your advisor please?
Annette Louise Connors is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.