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URL:  http://boards.fool.com/clear1-asks-i-just-read-an-interesting-article-26520476.aspx

Subject:  Re: Withdrawal rates in retirement Date:  3/31/2008  2:20 AM
Author:  intercst Number:  62067 of 75402

clear1 asks,

I just read an interesting article about how much income you could spend from your retirement account at www.summit-advisors.com.

They discuss a few studies and make five suggestions. It all makes sense to me (don't know enough to argue with the percentages suggested)...they discuss inflation and offer a no cost consultation. They are an independent firm in California...does anyone use an "independent" financial advisor (this firm says that they custody their clients assets at Schwab and Fidelity)? Here is the exact link to the article:

http://www.summit-advisors.com/summit-financial-advisors/2007/11/17/retirement-income-studies.html


I took a look at Summit's web site and it seems they charge a 1% of assets management fee. With a "safe" withdrawal rate of between 3% to 5% of assets per year, giving Summit between a third and one-fifth of that would severely affect your lifestyle in retirement. Summit would be taking much more of your money than the IRS.

That's why few successful retirees use financial advisors -- their high fees do more to secure their own retirement than yours.

intercst
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