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Prepare to Live on $33,000 a Year If You Retire With a $1 Million Portfolio

Preparing For a Reduction

A recent article tells us “People retiring in the next few decades should only count on withdrawing 3.3% of their savings a year, down from the well-established number of 4%” according to a recent report by Morningstar. Inc.  The withdrawal rate refers to how much a retiree can “safely” withdraw from their savings each year without fear of running out of money. Usually it assumes that someone will live about 30 years past retirement. Will this anticipated reduction affect you? Call us, and we can help you determine if it might be time to consider other options. Did you know there are products that can offer you guaranteed income* for the rest of your life?

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