Retirement Withdraw Plan

Many people I have talked to said one of the things they worry about is running out of money during their retirement years. I have those worries also myself. The more studies that I read about and people I talk to that withdrew 4% of their retirement funds and it worked out for them gives me a calming feeling.

No one has that magical crystal ball to know what the future may bring us. Especially with our Health. We could get sick and run up a ton of medical bills. One lady I know was put in a Nursing Home and she needed a lot of Medical attention. Before she passed a way, they spent over $1,000,000 of their own money on her care. So, it can go fast as times if we get sick in our older years.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

Darlene is Awesome

Darlene is good for me because she doesn’t worry about hardly anything. She is not worried about us running out of money in our Retirement years. She said we will be fine no matter what. I am a numbers person and want to put percentages in our favor. I don’t want to run out of money in our Retirement years.

For me to feel really comfortable I would want to be at a 3% withdraw rate at retirement time. I have friends that have taken out 3% and some up to 7% and they are still doing fine. It for sure depends on each person’s situations.

We printed off studies from different people to show our boys the chance of their money lasting at different withdraw rates. Of course, it depends if they have the money invested in Stocks, Bonds or sitting in cash. Plus, what mixture they have from 100 Stocks or 50% Stocks and 50% Bonds, etc.

My Perfect World

My perfect world would be to never do a withdraw from our Retirement funds and just live off our Dividend Stocks and other forms of Passive income. But not every one has multiple forms of Passive Income.

We teach the boys to live debt free and especially at Retirement time. We want them to work with a Financial Planner if they don’t feel they have the education to take care of their Retirement Funds. We have also showed them several Free Retirement Resources and Tools that they can use. We really hope they will consistently keep educating themselves on Personal Finances and Investing.

In most of the studies I have read showed that at 3% withdraw rate and money invested in something other than cash lasted people. At 4% studies have shown some 98% to 100% for at least 30 years. At 5% withdraw rate 96% to 100% if in a Mixture with Stocks for at least 30 years. But if 100% in Bonds at a 5% withdraw rate showed 64% on one study for 30 years.

Who knows how long we will live after we retire? Some positive people will say they are going to live to see age 110. Past Financial Planners we worked with wanted our money to last till age 94. I don’t think anyone except my Grampa ever made it to see age 80. So, who knows how long we will live?

Darlene and myself want to semi-retire at an early age. I am retired at an early age so I can write books and help people with my Podcast, Blog, Website and Books. Darlene will need to work at least 20 hours a week until both boys are out of the house for Health Insurance.

Health Insurance for the four of us would be over $1,500 a month at least. We haven’t got a quote for over the last five years. If we get our Passive Income high enough to cover the Health Insurance costs then we could have her to completely retire early. But as it is looking like in our situation that she will need to work at least 20 hours a week until she can get on Medicare at age 65.

Social Security our current plan is not to start drawing it until age 70. We have no idea what Social Security may look like at our retirement age. Some people think it won’t be around. We think it will be around but maybe at 50 to 75%. Who knows? We want to plan our retirement without counting on Social Security payments and then if we do get it, we can spoil our grandkids even more. LOL

What withdraw percentage are you currently at if you are retired? If not retired yet what rate do you plan on doing? We want to give our boys the best chance to have their money last them thru their retirement years.


Here are some positive quotes I like;

“Get your Money to Work for You… As hard as You Work for it.” By Napoleon Hill

“1. Make Money. 2. Use the Money to Make More Money. 3. Repeat the Process.” By Warren Buffett

“There is no way to happiness; happiness is the Path.” By Buddha

“Change Your Thoughts – Change Your Life” by Wayne W. Dyer

Let me know your thoughts about this blog and let me know of others you would like me to do in the future. I feel we can all learn from each other. That is why I am in the helping people retire early, enjoy life more and be more successful. Also, please see my Disclaimer page.

Don’t give up on your dreams; don’t let others talk you out of your dreams. Make your dreams happen. Make it happen today.

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