Is a 3% withdrawal rate safe?
I'm wondering if a 3% withdrawal rate is considered SAFE for my financial plan. I want to make sure I'm not withdrawing too much and risking my long-term financial security.
What is the 3 percent withdrawal rule?
I've heard about a financial strategy called the 3 percent withdrawal rule, but I'm not sure what it exactly means. Could someone explain this concept to me in simple terms?
What is a safe withdrawal rate at 70 years old?
Could you please elaborate on what constitutes a SAFE withdrawal rate for an individual who is 70 years old? Is there a specific percentage or range that is generally recommended, taking into account factors such as investment portfolio composition, inflation, and life expectancy? Additionally, how does one go about determining their own safe withdrawal rate, and what steps should they take to ensure their financial security in retirement?