The average 65-year-old American male will live 17 more years and the average 65-year-old American female will live 20 more years, so planning for 30 years of retirement will protect you from exhausting your savings.
✔️ Plan a withdrawal strategy so you pay less tax on money you take out of your retirement account and continue to grow the money you leave in.
✔️ Determine whether to take your pension or retirement plan benefit in a lump sum or in an annuity. Read your plan documents to learn about your options.
✔️ Try to grow your remaining money to at least keep pace with inflation.
✔️ Plan a withdrawal strategy so you pay less tax on money you take out of your retirement account and continue to grow the money you leave in.
✔️ Determine whether to take your pension or retirement plan benefit in a lump sum or in an annuity. Read your plan documents to learn about your options.
✔️ Try to grow your remaining money to at least keep pace with inflation.
