TITLE

Clueless in Withdrawal…

PUB. DATE
August 2006
SOURCE
Journal of Financial Planning;Aug2006, Vol. 19 Issue 8, p10
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the amount of money that can be safely withdrawn from retirement fund on a yearly basis. The "Journal of Financial Planning" has recommended a withdrawal rate of about 4.5%, and the financial planning industry has adopted a standard of around 4%. A poll by New York Life is presented, suggesting that the public isn't aware what they can safely spend during retirement. Only 10% of those polled between 41-years-old and 92-years-old thought they could only safely take out less than 5% a year, while 40% didn't know and 29% chose 10% or more.
ACCESSION #
22065601

 

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