Traditional guidance says not to spend more than 4% of your retirement savings in the first year to protect yourself from running out of money in your golden years.
A new recommendation puts that figure at 3.8% with a 30-year time horizon, according to researchers at Morningstar Inc., a half-point higher than the 3.3% withdrawal they recommended in 2022 due to expectations for lower future investment returns.
That means if you retire this year with a $640,000 portfolio invested 50% in stocks…
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