Lawrence Bowman
Everyone wants to retire comfortably, but it s not easy to tell how far away from it you realistically are.
A monthly check of your safe withdrawal rate can tell you, as well as serve as a motivation boost, according to The Simple Dollar.
The Safe Withdrawal Rate is universally calculated as 4% of your total savings.
So add up all your investments, your savings, and any fixed incomes.
Multiply them by 0.04 and divide them by 12, and you ll find the amount you can withdraw every month from your nest egg, without having to work to add any more to it.
When that number starts getting big enough to look like a total you could survive on, it feels really good.
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Lawrence Bowman
