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Many people I have talked to said one of the things they worry about is running out of money during their retirement years. I have those worries also myself. The more studies that I read about and people I talk to that withdrew 4% of their retirement funds and it worked out for them gives me a calming feeling.
\\nNo one has that magical crystal ball to know what the future may bring us. Especially with our Health. We could get sick and run up a ton of medical bills. One lady I know was put in a Nursing Home and she needed a lot of Medical attention. Before she passed a way, they spent over $1,000,000 of their own money on her care. So, it can go fast as times if we get sick in our older years.
\\nAs always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.
\\nDarlene is good for me because she doesn\\u2019t worry about hardly anything. She is not worried about us running out of money in our Retirement years. She said we will be fine no matter what. I am a numbers person and want to put percentages in our favor. I don\\u2019t want to run out of money in our Retirement years.
\\nFor me to feel really comfortable I would want to be at a 3% withdraw rate at retirement time. I have friends that have taken out 3% and some up to 7% and they are still doing fine. It for sure depends on each person\\u2019s situations.
\\nWe printed off studies from different people to show our boys the chance of their money lasting at different withdraw rates. Of course, it depends if they have the money invested in Stocks, Bonds or sitting in cash. Plus, what mixture they have from 100 Stocks or 50% Stocks and 50% Bonds, etc.
\\nMy perfect world would be to never do a withdraw from our Retirement funds and just live off our Dividend Stocks and other forms of Passive income. But not every one has multiple forms of Passive Income. Listen to the whole Podcast show for all the details.
\\n. If you would like to be a guest on my Podcast drop me an email at bruce@millsway.com or Text me at 480-389-6224
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