Comments on: How much can I safely withdraw from my retirement savings without running out of money? Is there a formula? http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/ Issues concerns retirement and retired living Sat, 11 Feb 2012 22:24:40 +0000 http://wordpress.org/?v=2.6.3 By: Steve R http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/#comment-160 Steve R Tue, 21 Oct 2008 06:46:49 +0000 http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/#comment-160 You can go to a fee-only financial planner who can run the Monte carlo analysis of your savings to see if you won't run out of money at retirement. You can go to a fee-only financial planner who can run the Monte carlo analysis of your savings to see if you won’t run out of money at retirement.

]]> By: goofycollector http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/#comment-159 goofycollector Fri, 17 Oct 2008 23:55:44 +0000 http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/#comment-159 I would check out the online calculators as well. The number my broker says is 8% of the gross. That's assuming you are earning 15% on your money and inflation of 5%. The goal should be to not touch your principal. If you run the numbers and start hitting your principal, you will be in trouble, unless you have a TON of assets in your retirement plan. 40-50 years is a long time, you would need millions, I would think. Perhaps you can supplement your income with a small part time job instead of tapping your retirement. You also don't say how old you are, you'll pay penalties depending on the plan if you try and withdraw prior to 59 1/2. Here are some calculators I found Kiplingers is my favorite site for $$ issues Good luck, and happy retirement I would check out the online calculators as well. The number my broker says is 8% of the gross. That’s assuming you are earning 15% on your money and inflation of 5%. The goal should be to not touch your principal. If you run the numbers and start hitting your principal, you will be in trouble, unless you have a TON of assets in your retirement plan. 40-50 years is a long time, you would need millions, I would think. Perhaps you can supplement your income with a small part time job instead of tapping your retirement. You also don’t say how old you are, you’ll pay penalties depending on the plan if you try and withdraw prior to 59 1/2.
Here are some calculators I found

Kiplingers is my favorite site for $$ issues

Good luck, and happy retirement

]]> By: Kathryn http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/#comment-158 Kathryn Fri, 17 Oct 2008 03:22:11 +0000 http://www.talkaboutretirement.net/personal-finance/how-much-can-i-safely-withdraw-from-my-retirement-savings-without-running-out-of-money-is-there-a-formula/#comment-158 There are a lot of retirement withdrawal calculators out there. Here's a link to one of them. Hope this helps. There are a lot of retirement withdrawal calculators out there. Here’s a link to one of them. Hope this helps.

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