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Interesting article on MSN by Liz Lulliam Weston wth a retirement sob story and 5 things you need to do to prevent it.

Phil Horstman retired at 55 with a nest egg of $1.5 million and a lot of confidence his best years were ahead.

Seven years later, the Murrieta, Calif., resident is down to $300,000 and is, as he puts it, "running out of money and options."

Horstman takes $28,800 a year from his retirement accounts for living expenses, a withdrawal rate that once seemed paltry but that now will have him broke in about 12 years -- far short of the 25 or 30 years he's expected to live.

Horstman is a poster boy for almost everything that can go wrong in retirement, from a bear market early on, to a withdrawal rate that proved unsustainable, to questionable financial advice that kept him invested in risky assets even as his portfolio plunged. Regular IRA?
Roth IRA?



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