How much can be safely taken out of your accounts to provide income?
How long will this income last?
Can more income be taken out in the future?
What happens with the savings if I die?
Are there other options, such as guaranteed income for live?
Her Money Would Run Out
Mary is age 60 and plans to retire in 7 years.She stated that she was afraid that she will run out of money over the course of her retirement. Her previous advisor had told her that she saved enough to provide for a comfortable retirement, not considering volatility risk of her investments.Our RetirementLab revealed that her portfolio of 16 mutual funds will not provide sustainable retirement income in unfavorable market. Our RetirementLab saved her from running out of retirement income when the market dropped.
If you have questions, concerns, or need help making an informed decision about your future retirement income, ensuring your assets are protected and you never run out of money, we will be happy to review your options with you. Schedule a free, no obligation meeting with one of our financial advisors.