How Much Can I Spend In Retirement

I just returned from a fantastic family vacation in Glacier National Park.  Our week was spent fly fishing, hiking and river rafting.  I started thinking about how these types of trips are best done when you are healthy enough to enjoy them.  If you had health issues, it would be really difficult to hike and experience the beauty of the area. A recent article in Money Magazine stated that 68% of retirees have not taken money out of their savings in excess of the required minimum withdrawals from their 401K and IRA accounts.  This was based on new research from Ameriprise Financial.

Many people have spent their entire lives savings for retirement, and when they finally do retire, they are confused about how much they can spend, and which accounts should be used to fund retirement expenses.  An effective retirement withdrawal strategy is critical since you will want to main the appropriate risk level for your portfolio, while considering the tax ramifications of withdrawal from different accounts.  It is also important to consider your health, future medical expenses, expected investment returns and inflation projections when building your retirement spending strategy.

You have worked hard your whole life, so it is critical to understand how much you can spend in retirement so that you are able to enjoy it while you are healthy enough to do so.  

I would love to help you with your retirement planning strategy.  Please contact me to set up a confidential telephone call to see if I might be able to assist you.  I am looking forward to hearing from you!