4 Retirement Planning Rules to Live By
Retirement is a pleasant prospect to look forward to, but if you go into it carelessly, you may wind up miserable and cash-strapped rather than laid-back and content. To give yourself a better chance of landing in the latter scenario rather than the former, you'll want to follow these important rules.
Ideally, you'll have amassed a sizable IRA or 401(k) balance, or both, over the course of your working years. But how much monthly or annual income will you actually be able to get on a sustainable basis from your retirement accounts?
If you don't establish a yearly withdrawal rate and see what it means in terms of your savings balance, you won't have a clear sense of the lifestyle you can afford once you stop working.
Source Fool.com
