Recently, on his popular show, a well-known, "financial expert" dismissed the common advice to withdraw only 4% of your retirement savings annually as "moronic," advocating instead for an 8% withdrawal rate. In this video, Peter Richon with Richon Planning and Erin Kennedy talk through whether and when an 8% withdrawal rate makes sense.

Here's the answer: yes, it might make sense. But it all depends on the individual person.

Finding the correct withdrawal rate will vary from person to person. To find that number, you need to account for life expectancy, spending habits, and market conditions. Finding that number will ensure your savings will last throughout your retirement while allowing you to maintain your desired lifestyle.

If you'd like to find your own unique, personalized withdrawal rate (keeping in mind that the rate should be revisited annually), please give Peter a call at (919) 300 - 5886 or visit www.RichonPlanning.com

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