What’s a “Safe” Amount of Money to Take from Your Portfolio?- Episode 127
You’ve finally made it to retirement, and, presumably, you’ve got a certain amount of money saved up that you’ll need to tap into from time to time. But the problem is that you don’t want to take too much, because you don’t know how long you’ll live, and thus have no idea how much is “too much” to take out.
This is a common dilemma for retirees. You need a certain amount to meet your basic expenses, but the money may have to last at least a few decades. Is there a “safe” amount you can withdraw each month so that you won’t outlive your savings?
Podcast host Johnny Dean and his guest, “Professor” Rick Plum, CFP® talk about how to figure out what may potentially be the “right” amount you can remove from your portfolio in this week’s episode of Managing Your Financial Future!
Important Information:
You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal. Rick Plum is a registered representative with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. The investment professionals are affiliated with LPL Financial and are conducting business using the name Lucia Capital Group, a separate entity from LPL Financial.
Rick Plum is a registered representative with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. The investment professionals are affiliated with LPL Financial and are conducting business using the name Lucia Capital Group, a separate entity from LPL Financial.
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