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There are a few researchers have studied
americanfunds.com retire, retirement, retiring, etc. and much of the advice offered by
those that haven't
How about in the context of "Would that retirement
withdrawal strategy have survived every event in the last 130
years of stock market history?"
Don't forget to do your spreadsheet to figure out when all your
funds will be gone. And you can spend principal also, unless you
let your kids influence you so much that you leave all your
principal to them. I started with a retirement budget. I
looked at what I had been spending. And the way I had kept my
check books up to date at all times, really helped. I was able
to determine which costs and expenses that would continue, and
which ones wouldn't. Then I listed only necessary expenses that
would be required after I retired. Working with a budget
helped me determine how much income I would have to have to
retire. With my social security income, plus my wife's,
determined, I could back into how much I would have to make
above that amount to meet my expenses. Do I have to change the
way I spend? Or, can I just live as I do now and remain within
my budget??? |