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Compass
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How Much Would People Take Out of Retirement Accounts If Left on Their Own?
Alicia Munnell, via MarketWatch Oct. 15, 2019 "The time has come when the first cohort of workers will retire entirely reliant on the accumulations in their 401(k) and IRA accounts (mostly rollovers from 401(k) plans) to supplement their Social Security benefit.... [S]everal recent studies suggest that people will not draw down their accumulations for fear that they will exhaust their money and be unable to cover end-of-life health care costs.... [A] new study provides further evidence on this reluctance to spend by showing that much of the withdrawals occur only because of the IRS required minimum distribution (RMD) rules." |
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