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Why the Wrong Withdrawal Strategy Can Be Disastrous
Manage episode 453403642 series 3428540
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Building a nest egg is relatively easy if you're both consistent and patient. Regular contributions over time can lead to compounded growth, which may give you the amount of money you need to live on.
But while building a savings can be easy, keeping it from running out is a whole other challenge. How you take withdrawals from your savings once you're retired is crucial to the survival of your portfolio. If the strategy you're using to take cash flow from your nest egg is faulty, your entire life savings may be at risk.
What happens if you do it the wrong way, and how might you be able to fix it? Find out from podcast host Johnny Dean and his guest, Rick "The Professor" Plum, CFP® on this week's episode of Managing Your Financial Future!
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