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Early Retirement: The Cost of Spending Sooner
The Retirement Cafe 
July 6, 2015 "The cost of early spending is greater than the cost of forgone savings and the two combined are substantial.... Retiring at 70 allows the retiree to contribute $56,000 more to savings in this example. Five more years of 7% annual returns with no withdrawals provides over $530,000 more in portfolio savings.... Because the 70-year old has a 4-year shorter remaining life expectancy, he can spend 4.6% of this portfolio [each year] ... which is 15% more than the 4% he could spend at age 65. The increase in spending from 4% of $1.18M to 4.6% of 1.71M is more than $30,000 a year." MORE >> |
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