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Decumulation Planning
Weekend Reading: What’s a Safe Withdrawal Rate Today?
Despite the effects inflation and volatility can have on retiree income, new research through Morningstar suggests a “safe starting point” withdrawal rate for new retirees in 2023 is 3.8 percent, up from 3.3 percent a year ago.
Weekend Reading: The Decumulation Drawdown: How Spending Became the Big Dilemma in Retirement
Between the depletion of pensions, surging inflation and extended longevity, it might feel more complicated than ever before to know how to responsibly spend your savings, not to mention extend your income to potential decades down the road.
Weekend Reading: 3 Behavioral Factors Can Affect Retirement Spending
The decumulation phase of retirement can be one of the most challenging chapters to navigate. After decades of working, saving and accumulating, it can feel foreign to finally allow yourself to enjoy the fruits of your labor.