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Walter Says Most Men Don’t Know Jack About Retirement!

By JLP | June 27, 2006

Money’s Walter Updegrave has written an article titled Why Men Don’t Know Jack About Retirement that talks about a recent retirement survey conducted by NewYorkLife.

The part of the survey that concerns me the most is when the men were asked about how much they could withdraw from their retirement plans each year. According to the article:

“Nearly half who ventured an answer felt they could spend 10% or more of assets each year, while another third thought 5% to 9% was appropriate.”

Are you serious? Ten percent? Lord help us!

Topics: Retirement Planning | 3 Comments »

3 Responses to “Walter Says Most Men Don’t Know Jack About Retirement!”

  1. Dale G. Says:
    June 28th, 2006 at 1:52 pm

    Assuming your investments consistently outperform inflation, your assets will last more than 10 years at that rate. However, they are very unlikely to last 20 years. I personally want to retire knowing that I am withdrawing at a rate that is sustainable indefinitely.

  2. » Weekly Blogosphere Mash-Up » Consumerism Commentary: A Blog About Personal Finance Says:
    June 30th, 2006 at 8:58 am

    […] AllFinancialMatters says men don’t know jack about retirement. […]

  3. sam Says:
    July 4th, 2006 at 10:41 am

    This article just goes to show why your blog is so important, JLP. You need to be out there in cyberspace telling all of us the right things to do, or at least pointing us to articles that tell us the right thing to do.

    BTW, I used the Amazon card to get two used Jimi Hendrix CDs, Electric Ladyland and Axis, Bold as Love. Thanks again.