News Search Results: Taxes
When turning fifty, many of us turn inward and ponder an impossible wish: If only we'd known the importance of stashing away a little bit more of our salary for the past 30 years. Not much at all, really. An extra percent each year would have yielded a sizable, perhaps even enviable, nest egg on which we could confidently support ourselves well past the age of retirement and into our golden years.
A retirement nest egg, whether it be a 401(k) or similar retirement account, usually takes decades to accumulate. So once you've retired, how long will it actually last? Ideally, it should remain, at least in part, for as long as it's needed. Of course, that all depends on the size of your withdrawals and overall spending habits. However, your spending in retirement may actually be less than you anticipate.