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Understanding the $1,000/month Rule - cbsnews.com
Most folks contemplating their retirement years know that there are “rules of the road” available to guide their planning. For example, the 4% rule suggests withdrawing 4% from accumulated wealth in the first year of retirement, with annual adjustments made based on inflation in the future, to provide three decades of financial support. That, of course, assumes a substantial starting point at the beginning of one’s retirement phase.
The next question then is, what’s the “rule” to get to the substantial starting point, and that’s where the $1,000 per month rule comes in. Managing Your Money senior editor Angelica Leicht, in a cbsnews.com post, offers an explanation of this rule and its relationship to the 4% rule. Check it out here.
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