- How to live it up in retirement without outliving your money - MarketWatch
- Paul A. Merriman
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People entering retirement will have to devise a smart strategy of how to spend their savings. They don't want to outlive their nest egg, and they also don't want to live more frugally than they need to. These are some time-tested strategies to make sure you don't spend too much — or too little. Here's another question worth asking: How should I spend what I have? VIDEO Invest in You: Ready.
The strategy might be unnecessary for retirees who really do anticipate a consistent overhead. Related Tags.
How to live it up in retirement without outliving your money - MarketWatch
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Paul A. Merriman
Home Retirement RetireMentors Get email alerts. Opinion: How to live it up in retirement without outliving your money. By Paul A. Comment icon. Text Resize Print icon. Getty Images. Merriman Columnist. In an ideal world, these numbers would be the same.
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- Four ways to not outlive your retirement savings!
MarketWatch Partner Center. See: How fees can eat up your life savings. These annual payments were just fine for a few years. But starting in , you had to do some belt-tightening. Read: These are the best new ideas in retirement.
That withdrawal rate was unsustainable, and in fact that portfolio ran completely out of money sometime in But you paid a high price in the s, failing to keep up with inflation. In other words, for the first 26 years of retirement, flexible distributions forced you to adapt to a lower standard of living than you had in your first year of retirement.
Neither of these outcomes is good. But there is a third path that will let you keep your portfolio healthy and have enough to live on.
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If that sounds too good to be true, I will tell you that there is a catch: Before you retire, you will need to have more money saved up. You can do that by working longer postponing retirement. You might be able to do that by taking a second part-time job and saving all the income from it.