How do you know if you’ve saved enough money to afford to retire? And what’s the best way to draw down your hard-earned retirement savings to last the rest of your life?
These are tough questions that can stump trained actuaries and investment advisers, let alone ordinary workers who are approaching their retirement years. I’ve thought about these questions often as a consulting actuary, financial writer and researcher who has studied the topic of retirement for more than 40 years. Now that I’m in my mid-60s, I need to answer these questions for myself.