Marc
Recycles dryer sheets
I retired in late 2017 at 60. Deferring SS until I turn 70; therefore, withdrawing funds from 403(b) and rollover IRA until then. I have selected withdrawal rate of 5% as safe given the PV of SS.
So, given the drop in market in December of last year I set this years allowed withdrawals as 5% of my liquid assets as of 12/31/18. Looking at 2020, my assets will probably be at least $300K higher on 12/31/2019 (I know I can't foretell the market but this is just an estimate), so I am planning on my 2020 withdrawals to be $15,000 higher. As well over half my spending is fully discretionary, I am not that concerned that some years I may be lowering my spending. This is just the plan until I get to 70 when SS kicks in and then RMD (which is less than 5% anyways at 71).
Does this make any sense?
thanks,
Marc
So, given the drop in market in December of last year I set this years allowed withdrawals as 5% of my liquid assets as of 12/31/18. Looking at 2020, my assets will probably be at least $300K higher on 12/31/2019 (I know I can't foretell the market but this is just an estimate), so I am planning on my 2020 withdrawals to be $15,000 higher. As well over half my spending is fully discretionary, I am not that concerned that some years I may be lowering my spending. This is just the plan until I get to 70 when SS kicks in and then RMD (which is less than 5% anyways at 71).
Does this make any sense?
thanks,
Marc