Financial Security

Before you start withdrawing money from your retirement accounts, most financial planners suggest setting a target annual withdrawal rate. Make it low enough to avoid depleting these funds too quickly.

You can fine tune your withdrawal strategy each year, preferably with the guidance of your financial or tax adviser. For example, if your personal situation changes, you can adjust how much you should withdraw.

It is going to take some time for you to adjust to your new way of living, so you don’t want to jump in and start pulling out your funds before you have even made a plan as to how to use them to your best benefit.