Protect Your Retirement Income from Inflation
If you’re a retiree (or near retiree) who isn’t worried about inflation, you’re either fabulously wealthy or not paying attention. Even for super savers, inflation is retirement kryptonite. To keep up with rising costs, you may be forced to take larger withdrawals from your portfolio, increasing the risk that you’ll outlive your nest egg. And if inflation is accompanied by a bear market, as it is now, those withdrawals can leave a permanent hole in your portfolio. More than 70% of individuals age 50 and older are concerned that inflation will cause serious economic hardship during their retirement, according to a recent national poll Kiplinger conducted with Athene, a retirement services company. Although you can’t control the inflation rate—or the stock market—you can take steps to protect your retirement security. The 4% Rule for Retirement Withdrawals One of the most perplexing questions facing retirees is this: How much can I withdraw from my savings each year without running out of money?
Protect Your Retirement Income from Inflation
If you’re a retiree (or near retiree) who isn’t worried about inflation, you’re either fabulously wealthy or not paying attention. Even for super savers, inflation is retirement kryptonite. To keep up with rising costs, you may be forced to take larger withdrawals from your portfolio, increasing the risk that you’ll outlive your nest egg. And if inflation is accompanied by a bear market, as it is now, those withdrawals can leave a permanent hole in your portfolio. More than 70% of individuals age 50 and older are concerned that inflation will cause serious economic hardship during their retirement, according to a recent national poll Kiplinger conducted with Athene, a retirement services company. Although you can’t control the inflation rate—or the stock market—you can take steps to protect your retirement security. The 4% Rule for Retirement Withdrawals One of the most perplexing questions facing retirees is this: How much can I withdraw from my savings each year without running out of money?