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Like the previous advisor says – It truly depends on your situation.
However, most of my clients draw between 3-5% from their portfolios annually and typically take an income-produced approach to their withdrawals. These clients use the dividends and income produced by their portfolio to create their paycheck – rarely do we sell securities to fund a large distribution. This strategy is very predictable and provides a lot of piece of mind to my clients as they know these income streams are predictable throughout their retirement.
Barbara-
I get this question a lot- and it depends.
Depends mainly on:
What are your goals?
How much risk are you willing to take?
What is your need?
The answer will vary for a person needing income of $50,000 a year and has over $2,000,000 in investments, versus someone needing an income of $120,000 a year and $150,000 in investments.
Paul Doak, CFP
www.id-financial.com
Okay, make the attorneys and compliance folks happy “depends on Age, Risk tolerance, total amount of assets, time horizon, financial needs….