Ask Kim: Navigating Finances in Retirement

Posted on December 20, 2023

Kim,

Do you have a standard rule of thumb for monthly withdrawals from your assets for retirement? Meaning a percentage of assets.

Also, do you have a standard number a retired couple should project for monthly expenses, provided no mortgage is involved?

Sincerely,

Navigating Finances in Retirement

Dear Navigating,

Unfortunately, there isn’t a standard rule of thumb for monthly withdrawals, at least as far as dollar amounts are concerned.

We do have guidelines based on withdrawing a percentage of your assets each year, and that can vary depending on your balances and market conditions. You would need to sit down with an advisor and talk about your situation before that calculation could be made.

Everyone’s situation and lifestyle are different, so there isn’t a ‘one size fits all’ answer.

Sincerely,

Kim

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