Forgetting to take your first RMD by April 1 in the year after you turn 73 can result in a significant tax penalty. “If you ...

Most people enter retirement without any idea how to manage withdrawing their savings without running out of money. Here is ...

It’s common for clients save for retirement throughout their entire working career. Individuals who are fortunate enough may spend decades contributing to their IRAs and 401(k)s. The need to ...

While the 4% rule has been the accepted starting retirement withdrawal rate, the survey found that 28% of retirees withdraw less than 3% annually to support their lifestyle, 13% withdraw 4-5% and ...

Withdrawal scheme. The first step in developing your personal retirement withdrawal plan is to select a scheme for withdrawing your money. Most people don’t realize that the 4% rule — now ...

For instance, Morningstar analysts say the subpar market returns that may be likely for the foreseeable future should pull the initial withdrawal figure back to only 3.7% of your retirement savings.

At a 4% annual withdrawal rate, you’ll need $300,000 in savings, says Fannon. And if you only want to draw down 3% per year, you’ll need a 401(k) balance of $400,000 to generate $1,000 in income.

Retirement planning hinges on determining a sustainable withdrawal rate to ensure savings last a lifetime, but shifting market conditions in 2025 have sparked debate over the traditional 4% rule.

Morningstar Inc. has lowered what the investment research firm considers a safe retirement savings withdrawal rate for new retirees based on a 30-year outlook, according to the firm’s annual “State of ...