Kola Dimitry
Member
Having money to sustain your standard of living can feel out of your control. Scary. This is especially true when your retirement money is in stocks and bonds since their value can have huge swings. If you're wondering how to make retirement money last after you leave career, here are 7 factors. Knowing you can add some control to your retirement funds is empowering. That’s what I’ll be covering in this video.
1. How Much Money - First, the obvious reality is the amount of money that you have in your investment account from which you’ll draw is under your control.
2. The percent you choose to withdraw
3. 2 above is directly related to how much money you spend in retirement since the more you spend the more you’ll need to withdraw.
4. When and how you invest. You can choose to be a proactive investor based on whether the markets are over valued or undervalued.
5. Cost of Your Wealth Management -You control the amount of fees that you pay for your retirement account.
6. Amount of income from sources outside investment accounts
7. Where you live
These 7 ways can help you not run out of money in retirement.
1. How Much Money - First, the obvious reality is the amount of money that you have in your investment account from which you’ll draw is under your control.
2. The percent you choose to withdraw
3. 2 above is directly related to how much money you spend in retirement since the more you spend the more you’ll need to withdraw.
4. When and how you invest. You can choose to be a proactive investor based on whether the markets are over valued or undervalued.
5. Cost of Your Wealth Management -You control the amount of fees that you pay for your retirement account.
6. Amount of income from sources outside investment accounts
7. Where you live
These 7 ways can help you not run out of money in retirement.