Ask the Dolans: How long will our retirement savings last?
Filed under: Budgets, Retire, Saving Money, The Dolans
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Dear Ken and Daria,
My husband recently retired at age 62 and we are planning to live off our taxable funds for a few years until his IRA kicks in. Is there a formula for figuring out how long our money will last us?
-Kathi
Curious how long your retirement savings will last? Use this retirement calculator at Dolans.com to find out!
Reader Comments (Page 1 of 1)
7-25-2008 @ 8:36PM
Marie Falsetta said...
Im 63 and I can retire Sept 1 2009 for full retirement (65) from my job. My questions is> Monthly 4000.00 or lump sum 600,000.00 pay out. I have 200,000 in 401K, 180,000.00 in savings, 160,000.00 mortgage and aprox. 8000.00 in credit cards. Apt. maintenance 900.00 How long will the money last. I am single.
thanks,
Marie
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8-20-2008 @ 7:13PM
Jon said...
One type of investment for a retirement fund is currency trading ETFs. They are a good way to get additional diversification. This site had some good info on these funds
http://www.currencytradingfunds.com
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10-10-2008 @ 5:17AM
retiredebtfree01 said...
Our calculator will help you figure how long your investments will last. Just plug in your balance, number of years the savings should last, expected annual after-tax return and expected inflation rate. Then you'll see an inflation-adjusted figure for annual withdrawals. To account for possible market volatility and normal financial risk, you may wish to pad the number in the "years savings must last" field.
http://retiredebtfreeandhappy.com/
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