From CNN Money – “To have the retirement you want now, you may have to tap a little more of your earning power …and tap into your spirit of adventure. Here are 6 ways to make it happen.
First up – Turn assests into income.
Stingy stock returns are threatening to upend the standard rule of thumb for making your money last: Withdraw 4% of your assets the first year you retire, adjust annually for inflation, and you’ll have nearly a 90% chance of your money lasting 30 years. But that calculation assumes 8% returns for stocks, 5% for bonds. Given today’s low interest rates and choppy stock market performance, some advisers suggest starting at 2% or 3%.
Too little to live on? Learn to balance conservatism and cash flow.”
Find out what the other 5 ways are: