Retirement Survey results

[mickeyd]

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

Quote:

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

[Nords]

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...

[ladelfina]

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"!

[youbet]

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.......

[Maurice]

Quote:

Originally Posted by Nords 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.

[donheff]

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."

What, me worry? I read Mad.