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Your Retirement May Be Longer Than You Think
In 2001, Americans who reached age 65 could expect to live another
18.1 years—nearly two decades past the traditional retirement age.1
And that’s just the average. Many people will live longer,
requiring more assets than ever to ensure a comfortable retirement.
1Public Health Services, United States, 2003.
Before you can plan effectively for retirement, you will need to meet
with your advisor to make a realistic assessment of your future income
needs. The chart below gives you an idea of how long your savings may
last based on annual withdrawals over different time periods.
Total Savings
at Retirement |
Annual
Withdrawals
Over 10 Years |
Annual
Withdrawals
Over 20 Years |
Annual
Withdrawals
Over 30 Years |
|
$100,000 |
$13,587 |
$8,718 |
$7,265 |
| $300,000 |
$40,760 |
$26,155 |
$21,795 |
|
$500,000 |
$67,934 |
$43,592 |
$36,324 |
| $1,000,000 |
$135,868 |
$87,185 |
$72,649 |
2This is a hypothetical illustration
based on an annual rate of return of 6% with withdrawals taking place at
the end of the annual period. This illustration does not take into
account any federal, state or local taxes or any additional sources of
income. The 6% fixed rate is a hypothetical fixed rate of return and
does not represent any actual security or investment. Consult your
financial or tax advisor regarding your tax situation.
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