Will my Money Run Out?

Financial Autonomy - Will my Money Run Out?
Financial Autonomy - Will my Money Run Out?

Whether you’re planning for a traditional retirement at age 60+, or working towards an early retirement goal, thoughts of “will my money run out?” will no doubt have crossed your mind.
There is a lot written about safe withdrawal rates. This refers to the rate you can afford to draw down on your savings, so that there’s no risk of your savings being depleted during your life time. The most common rule of thumb guide here is 4%, and that’s certainly a useful starting point. The answer for you though will depend on how you invest your savings, and also at what age you retire. So for instance if you retire at 75, you could probably draw at 8% per year and face no real prospect of your money running out before you do. Whereas someone hoping to retire at 45 would need to be much more conservative with the draw down rate.

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