Reported 12 months ago
Financial advisor Matt Becker advises a couple, both 56 years old with $1.2 million saved, on their retirement plan. While their advisor suggests withdrawing 5-8% annually from their investments and taking Social Security at 62, Becker raises concerns about the risks of this strategy. He points out that annual returns are not guaranteed, and a more conservative approach might be advisable. Becker also discusses the aggressive withdrawal rate proposed by the couple and suggests alternatives such as reducing expenses or working longer to improve the sustainability of their retirement savings.
Source: YAHOO