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Here's the Best Way to Make the 4% Rule Work for You in Retirement
['Maurie Backman', 'Https', 'Www.Facebook.Com Themotleyfool']
The Motley Fool
When you've worked hard to kick off retirement with a nice amount of savings, you don't want to have to worry about that money running out.
The 4% rule tells you to withdraw 4% of your savings your first year and adjust future withdrawals for inflation.
But misunderstanding the 4% rule could put your money at risk and make you miserable during retirement.
Under the 4% rule, you'd withdraw $40,000 your first year of retirement and adjust future withdrawals in line with inflation only.
Understand what the rule is meant to doThe purpose of the 4% rule is to preserve your retirement savings.