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Investing/Strategies / Retirement Investing
|Subject: Re: calcualte my retirement plans||Date: 4/7/2012 8:23 AM|
|Author: aj485||Number: 70487 of 83139|
...A withdrawal of $1000 from a $240,000 IRA is 5%....
By my math, 1K would be 0.42%, not 5.00%. ;-)
While you are correct, what I think Bob was actually trying to say was:
A withdrawal of $1,000 per month from a $240,000 IRA is a 5% annual withdrawal rate.
Starting out with a 5% withdrawal rate has a higher chance of the OP running out of money from their IRA, if they are trying to have their IRA last at least 30 years.
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