USA When Should one spend their retirement money?

[Yonathan Grey]

What would be the best age to start spending the money you spent for retirement?

 

[kirby]

Twenty -Five!!

The determining factor will be when you retire. At that point you have no income and will have to spend your savings to live on. If you want to do so sooner - that's up to you but be sure you have enough bucks left over for retirement.

 

[Yonathan Grey]

Who wouldn't want to retire early! I would love to see more of the world after I retire, which would mean an expensive lifestyle even then.

 

[maarkr]

i've seen many recommendations for a twenty year plan... meaning that you take out 5% of your retirement annually, which is 20 years or so... base the starting year on your retirement to make sure it will carry you thru your life expectancy... if you're healthy and plan to live to 80, then start at 60. Of course it depends on how much you have and what your living expenses are.

 

[bklynboy]

Depends ...... What is the value of assets you will have, what debt you have, do you have Annuity or Pension income in retirement, what lifestyle you wish to achieve, etc ...... Usually you would want to use some sort of planning tool to make that determination or use a financial planner to get a better understanding.