The foundations that govern retirement spending are altering. No shock, then, that retirees have a number of new questions.
For many years, standard knowledge was that retirees who wished a excessive diploma of certainty their cash will final ought to spend not more than 4% of their financial savings within the first yr of retirement and alter that quantity yearly to maintain tempo with inflation. Analysis agency Morningstar Inc. upended that considering earlier this month with a advice that individuals spend not more than 3.3% of their financial savings in the beginning of their golden years.