Because no one, not even the actuaries know how long we will live, whether we want to perserve some of those funds for our heirs, what the tax rate will be over those years and whether inflation will begin to rise significantly, this decision is incredibly difficult to make, even when you are close to retirement.
Arriving at retirement in good health, relatively debt-free and with some developed plans about where you live and how you intend to live in retirement can offset some of those later-in-retirement expenses that slow the consumption of that income.
Read the full article by Paul Petillo, a fellow Boomer here.
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