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Retirement Survey results
Old 04-13-2008, 10:33 AM   #1
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Retirement Survey results

Yikes...10% w/d rate will not be a very good strategy for most folks in the long run.

Wachovia’s fourth annual Retirement Survey report found that 28% of surveyed retirees withdraw 10% or more of their retirement savings annually to pay for expenses

Financial Advisor Magazine

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Old 04-13-2008, 10:55 AM   #2
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Yikes. I wonder how much of that is RMDs.

Either that or these folks are depending on their kids to get them to the finish line...


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Old 04-13-2008, 11:44 AM   #3
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Some retirees will have pensions, too, don't forget.. probably 25%-30%, no?
That said.. we don't know what the "more" is in "10% or more"!
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Old 04-13-2008, 12:58 PM   #4
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I don't think pensions or rmd's matter here. It clearly states they are withdrawing the money from savings and spending it. The odds are heavily against them having any retirement savings when judgment day rolls around.......
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Old 04-13-2008, 01:08 PM   #5
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Originally Posted by Nords View Post
Yikes. I wonder how much of that is RMDs.

Either that or these folks are depending on their kids to get them to the finish line...
Or maybe Dr. Kevorkian.
Money's just something you need in case you don't die tomorrow.
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Old 04-13-2008, 01:12 PM   #6
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From the article:

Among younger retirees—those between the ages of 55 and 59 with less than $250,000 in assets—75% describe themselves as "not distressed."

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