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How do you go about finding out how much you can draw when you retire?
Wiki User
∙ 13y ago
dumb question
Wiki User
∙ 13y ago
To determine how much you can draw when you retire, you need to assess your retirement savings, expected expenses, and investment returns. Start by calculating the total value of your retirement savings, including any pensions or Social Security benefits. Determine your anticipated living expenses in retirement, taking into account factors like housing, healthcare, and leisure activities. Lastly, consider a safe withdrawal rate, typically 3-4% of your savings annually, to ensure a sustainable income throughout retirement. Consulting with a financial advisor can provide you with personalized guidance.
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