Thursday, May 24, 2012
5 BIG RISKS TO YOUR RETIREMENT, PART 5—DON’T WITHDRAW TOO MUCH FROM SAVINGS
7:49 PM | 
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pensionfinancialservices |
So how much is too much?
In this final installment derived
from a Fidelity series that outlined “rules of thumb to help protect your
savings and income,” the point is made that retirees need to think
conservatively in taking money from their retirement account, “particularly for
any assets needed for essential expenses.” Of course, “essential” means
different things to different people.
Whatever the need—be it,
say, for rising health costs, possibly a family vacation, or perhaps aid to
family members—there’s no doubt that your financial planning will be impacted
by, in addition to changes in personal circumstances, a spectrum of economic
issues (e.g.. bear and bull markets, recessions, high inflation). It all
reinforces the importance of putting considerable thought into the decision to
draw down your savings in a prudent way that will not put your assets’ security—and
sustainability--at risk.
If tapping into your
retirement savings is an issue on your mind—for example, how rapidly or
gradually to withdraw and at what rate without jeopardizing your future--the
experts at Pension Parameters Financial Services, Inc., can help run some models
for you and discuss the most advantageous options.
Call for more information:
Pension Parameters Financial Services, Inc.
28 West 44th Street
New York, NY 10036
Phone: (212) 675-9360 Fax: (212) 675-9363
New York, NY 10036
Phone: (212) 675-9360 Fax: (212) 675-9363
675 Line Road
Aberdeen, NJ 07747
Phone: (732) 583 -1313 Fax:
(732) 583-6991
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