Savings Benchmarks and Withdrawal Rate Guidelines for Retirement Preparation
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View chart & analysis → - 1Robert Brokamp discussed retirement preparation and savings benchmarks.
- 2The Social Security Administration released a report stating that those born in 1960 will receive 41% of a $72,000 annual salary when they claim benefits at age 67.
- 3Bill Bengen suggests a 5.8% withdrawal rate within the system but recommends 5.5% due to financial concerns.
So what's the key point?
Standards for preparing and withdrawing living expenses after retirement were discussed. The Social Security Administration stated that those born in 1960 can receive approximately 41% of their annual salary at age 67.
Source The Motley Fool +1 · View original ↗
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