Tag: 401k withdrawal
More than one of this blog’s readers said a recent article about 401(k)s was hardly revelatory. But it sure generated a lot of comments. Ed McGrath wrote this about “Retirees with Pensions Slower to Spend 401(k):” “Well thank you for this Caption Obvious.” Perhaps the article struck a nerve because baby boomers are the generation…
The brief’s key findings are: Retiring baby boomers need a strategy to draw down their 401(k)/IRA balances to avoid either outliving their savings or scrimping on consumption during retirement. Traditional strategies include spending only the income, consuming assets based on life expectancy, and drawing 4 percent of initial assets each year. A comparison found that a new…
