How Should Withdrawal Rates Change if You Don't Have Any Legacy Goals?

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 24 May 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Ready for Retirement, James discusses how withdrawal rates should change if you don't have any legacy goals. Questions Answered: How can you plan most effectively for your legacy goals (or lack thereof)?What should you consider in terms of withdrawing funds and your goals?How can you ensure you reach your retirement goals? We’re on YouTube! Check us out here for more content to help you create a secure retirement: YouTube - Root Financial Partners LET'S CON...

Transcript

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0:00.0	Discover the tips and strategies that will help you achieve your retirement goals.
0:09.3	I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.
0:14.4	It all starts right here on Ready for Retirement. for retirement.
0:29.1	Hi, everyone and welcome back to another episode of Ready for Retirement.
0:30.2	I'm your host, James Cannell.
0:36.5	Today's topic is all about withdrawal rates and how those withdrawal rates should change if you don't have any legacy goals.
0:39.3	So as you're looking at withdrawal rates, there's not a perfect formula for how you should do it.
0:43.6	When you retire, what is the right amount that you can take out of your portfolio?
0:47.8	Well, in reality, it's going to be based upon how the market does.
0:51.4	It's going to be based upon your life expectancy.
0:53.3	It's going to be based upon your expenses today and your expenses in the future. It's going to be based upon
0:57.9	so many different variables that we come up with the sustainable withdrawal rates as starting
1:03.6	points, and then we build from there. But today's episode was prompted by a question that I received
1:09.1	on a YouTube video. and the question is this.
1:12.2	It says, excellent video. I discovered your channel a few days ago, and I have been binge watching.
1:17.0	Your mastery of this subject is clear. One question I've never seen anyone address than 25 years I've
1:21.3	been reading and studying the subject is, how should your withdrawal rights change if you have
1:25.7	no need or no desire to leave any money behind?
1:29.6	End question.
1:31.1	So I appreciate this question.
1:33.1	And by the way, quick side note, if you have not checked out YouTube already and you're listening to this podcast, be sure to do so.
1:38.0	This podcast and other content is available on YouTube under the channel name Root Financial Partners.
	...

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