No. of Recommendations: 2
"If we kept our savings under the mattress, we could self-fund our desired retirement income for a long time, but we'd need to take 5%--wouldn't want to do that for long. What if we need assisted living later and couldn't afford it because we depleted our savings? we "need" the funds? I don't know how to answer that except to say Yes...and No. "


There will always be uncertainty - but if you say "yes" then you
want to get the funds as early as you can.

But if you say that you could fund your retirement at a 5%
withdrawal rate - but not for long - then what is "long"?
Figure that the delta from 62 to 66 is 4 years - so is 4 years

I figure to retire when I'm 64 - and expect to have funds set aside to
cover expenses till I reach 66.
Great expectations sometimes come to naught.
If naught comes to pass - I will not hesitate to draw on SS

Everyone makes their own choice - cause everyone has a
different concept of living. Other folks can offer perspective
but the decision comes down to you.

Good luck and may you choose wisely

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.