My parent is over 80 with social security plus a dwindling nest egg. Hopefully she lives to 90 or beyond! However, her nest egg was planned to last until ~ early 80s, so it's not enough to last to 90.
I can't find any guidance on what percent she can/should withdraw each year at this point. Imagine being 85 with 50-60k left and presumable a few more years. Social security covers rent, utilities and medigap plan, but not really much else.
I'd like to suggest a budget of what she can now withdraw and what kind of budget that would give.
10%? 20%? She's going to keep just taking too much each year unless we can budget something.
Submitted December 09, 2023 at 06:38PM by sea_urchin_437 https://ift.tt/BLGZSrk
