“Tapping a nest egg is among the most important and difficult tasks we all face in retirement. Simply put, your money needs to last as long as you do. Yes, there are tools that can help do-it-yourselfers. … But I would argue that this is one place where a good adviser is invaluable.”
Glenn Ruffenach, “Tips for Tapping Your Retirement Savings,” Wall Street Journal, January 31, 2019
The Takeaway: Like Glenn says, you can try to do this yourself or with the help of do-it-yourselfer tools. But calibrating complex retirement withdrawals is as much an art as a science, and the right amount to withdraw will change each year along with the market environment, your lifestyle, health situation, and multiple other factors. And frankly, it’s important to have an expert third-party give you objective feedback on whether you’re spending too much or too little. That’s what I would be looking for if I were retired.