Most people, by the time they reach retirement age, have a certain amount of money saved up that they'll need to tap into from time to time. Problem: that money may need to last a lifetime, and because you don't know how long you'll live, you have no idea how much is "too much" to take out.
You' re going to require a certain amount of money to meet your basic expenses, but that stash of money - your investment portfolio - may have to last at least a few decades. So here's the question: is there a "safe" amount you can withdraw each month so that you won't outlive your savings?
Podcast host Johnny Dean talks with his guest, "Professor" Rick Plum, CFP® about how to figure out what may potentially be the "right" amount you can remove from your portfolio in this week's episode of Managing Your Financial Future!
