We always hear about financial planning “rules of thumb”, such as the 4% withdrawal rule for income, or the “80% of pre-retirement income” rule. It’s important to have a track to run on when it comes to retirement planning, but we want you to exercise a little bit of caution here… in putting too much weight into any one or more of these financial planning rules. How well do they work? Would they work for all shapes and sizes of retirement portfolios? How can you know if your personal situation matches up well with each financial planning method? Quite frankly, one “rule of thumb” may work better for you than it might for someone else, and vice versa. So, in this episode we talk about a few common “rules of thumb” we see in the marketplace being used, and how to know if it holds merit for you, or if it doesn’t. In a sense, we’re “myth-busting” when it comes to “rules of thumb”!

The Retirement Ready radio show is featured every Saturday on WTMJ 620 AM at 1:00 pm. We will bring you information on: Social Security options, retirement trends, options to retire with life changes and achieving a secure financial future. Listen live: www.wtmj.com/listen-live

Investment advisory services provided by Drake & Associates, LLC, a State of Wisconsin registered investment adviser. Insurance products are offered through a separate company, LOFT Financial Advisory Group, LLC, a Wisconsin Insurance agency, clients are under no obligation to purchase any recommended insurance products. Advice and opinions expressed during Retirement Ready are solely that of the hosts or guests of Drake & Associates, LLC and not WTMJ Radio or Good Karma Brands Milwaukee, LLC.