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April 16, 2018

How not to run out of money in retirement

  • The winging-it crowd often burns through their money too fast, while the conservers may spend too little.

    Americans aren't terrific at saving for retirement. Many are even worse when it comes to figuring out how much to spend once they get there.

    An actuary who's studied the issue for three decades recently proposed a relatively straightforward strategy that can help. In its simplest form, the “Spend Safely in Retirement “ plan suggests waiting until age 70 to claim Social Security and using the IRS' required minimum distribution table to determine how much to withdraw from savings each year.

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