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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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Retirement vs. Distribution

December 13, 2016 by Thomas Mullooly

There’s an excellent article written by Carl Richards featured in the NY Times. Richards is known in our industry because he comes up with cute images drawn on napkins that succintly get a message across. I’ll link to the article below.

His point was the old “image” of retirement was “work hard from 25 through age 65” and then “play a lot of golf” at age 65.

Very few people ACTUALLY do this.

What we’ve been trying to stress to our clients is to not get hung up on the actual “retirement” age. After all, we have some clients in the public safety field who retire in their late forties and early fifties.

What we’re trying to determine from our clients is this: at what age do they believe they are going to begin the “distribution” phase — that is, when will they begin drawing down their retirement account?  This helps us determine how long we can focus on growing the assets needed for distribution.

Even though a client may “retire” from their career at age 48, or age 58 or even 68 years old, they may not begin to start drawing on their funds for 7 years, 17 years, 27 years …or (hopefully) never, and leave it for their children.

When Social Security was rolled out in 1933, monthly payments began at age 65. The average life expectancy at the time was 67. That is not the case today. Measuring “life expectancy” is an inexact science. On average, people are living longer. Their retirement funds need to be stretched over many more years… more years than most people consider.

Here is the link to the article:
http://www.nytimes.com/2016/12/12/your-money/a-retirement-plan-with-less-golf-but-more-satisfaction.html?ref=your-money

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Filed Under: Financial 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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