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The Psychology of Retirement Fund Withdrawal Strategies
If your personality can classify you as an extrovert and more organized and thorough in your financial deliberations, you are more likely to avoid totally depleting your retirement funds early. Conversely, if you’re often worried or stressed or have an open and agreeable personality, your tendency might be to withdraw at a rate that will cause you to outlive your financial resources. These conclusions are the result of a study from the American Psychological Association titled “The psychology of portfolio withdrawal rates.” The Motley Fool’s Katie Brockman, in a post on their website, discusses these findings, and provides guidance on designing an individual withdrawal strategy. Read Ms. Brockman’s post here…