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Mullooly Asset Management

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Retirement Withdrawals

My Retirement Withdrawals: Will I Outlive My Money

December 5, 2012 by Thomas Mullooly

https://media.blubrry.com/invest/p/content.blubrry.com/invest/Retirement-Withdrawals-final.mp3

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In this week’s Mullooly Asset Management podcast Tom and Brendan discuss retirement withdrawals. When retirement withdrawals come up in conversation the number one question clients want to know is, “Will I outlive my money?”. It makes sense that people worry about this type of issue because nobody wants to run out of money in their retirement account while they are still alive. The fact of the matter is that most people just do not have enough money saved initially, and then end up taking out too much money every year.

Most people are trapped in the seemingly paradoxical situation of whether to take a fixed percentage for their retirement withdrawals or a fixed dollar amount. If you take a fixed percentage out of your account each year, the amount of money you have to live off of will become smaller because you will have less each year to deduct from. However if you take a fixed dollar amount for your retirement withdrawals, then you will be taking a larger percentage every year. This is because the amount you Retirement Withdrawalswill take out remains the same in dollar amount, while the total of the account will be smaller than the previous year.

Tom will discuss how you can beat this paradox and make enough money to comfortably retire with in this podcast. Also, if the numbers are confusing you there will be a video to follow where you can visibly see the totals that are discussed.

None of the securities mentioned in this video or blog post are considered investment advice. Mullooly Asset Management also strongly urges our listeners and readers to talk with their investment adviser before making any decisions to buy or sell any investments. If you do not have an investment adviser do not hesitate to contact us at Mullooly Asset Management.

You can download this podcast about retirement withdrawals on iTunes for free!

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Filed Under: Podcasts, Retirement Planning

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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