Q&A: Spend $500k at a 4% Rate (And Much More) Example

If you have $500k saved for retirement, the so-called “4% Rule” says you can spend $20,000 per year. A viewer asks the following: Over 30 years, that adds up to a total of $600,000. So, how do you get $600k out of $500k?

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We’ll address that question, and more importantly, fiddle around with some numbers to illustrate some essential concepts for retirement income planning.

We’ll look at how earnings on your retirement savings can help stretch your assets. Plus, we’ll see how inflation, market crashes, and adjustments to your spending might look in a simplified model.

The amount you withdraw from savings can supplement income from Social Security and other sources. But it’s important for that money to last for the rest of your life. The amount you spend affects how long your money will last, but investment returns and inflation are also important.

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Related Videos:
Retirement Spending Reality: https://www.youtube.com/watch?v=dzVep2dJQDw
Do Rules of Thumb Work? https://www.youtube.com/watch?v=lZe2iEsguzk

CHAPTERS:
0:38 Question on Spending 4% of $500,000
1:56 Add Some Earnings
4:28 Market Losses and Spending Adjustments
7:04 Spending Patterns (Go-Go, Slow-Go, No-Go & Spending Smile)

Justin Pritchard, CFP® is a fee-only fiduciary advisor who can work with clients in Colorado and most other states.

IMPORTANT:
It's impossible to cover everything you need to know in a video like this. The only thing that's certain is that you need more information than this. Always consult with a CPA before making decisions or filing a tax return. This is general information and entertainment, and is not created with any knowledge of your circumstances. As a result, you need to speak with your own tax, legal, and financial professional who is familiar with your details. This video is not a substitute for individualized, personal advice. Please verify with your plan administrator when employer plans are involved. This information may have errors or omissions, may be outdated, or may not be applicable to your situation. Investments are not bank guaranteed and may lose money. Opinions expressed are as of the date of the recording and are subject to change. “Likes” should not be considered a positive reflection of the investment advisory services offered by Approach Financial, Inc. The Comments section contains opinions that are not the opinions of Approach Financial, Inc., and you should view all comments with skepticism. Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration.

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#4%_rule #retirement_spending #retirement_planning #financial_planning #500k_retirement #guardrails #cfp #financial_advisor #investing_in_retirement #adjust_spending #market_losses #retirement_reality #retirees #how_to_retire

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