Mullooly Asset Management
Mullooly Asset Management
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Navigating Retirement: From Saving to Spending with Confidence
• 19 minDoes the thought of switching from being a diligent saver to a spender during retirement unsettle you? We understand this and are here to help you navigate this shift with ease and confidence. In our engaging conversation with Tom, we delve into the psychological aspect of retirement spending and the fear that comes with the possibility of outliving your savings. We analyze how the financial tide turns for retirees, making them withdraw from their investments instead of adding to them. We also explore annuities, their benefits, and drawbacks, and whether they can act as a safety net against running out of money in your twilight years. Ever heard of the 4% rule for retirement spending? It's a popular guideline, but we're going to dissect it for you. We discuss the realities of changing spending patterns as we age and the unexpected tax implications of short-term investments. Drawing upon a comprehensive Fidelity study and a gripping Washington Post article, we aim to paint a realistic picture of retirement spending. Our goal is to equip you with practical advice to help you transition smoothly from saving to spending during your golden years. Don't miss this insightful episode!
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