Following This Long-Trusted Retirement Rule Could Wreck Your Senior Years

You're no doubt aware that it's important to save well for retirement, since Social Security will only pay you a limited amount of money each month and you'll generally need income outside of those benefits to maintain a comfortable lifestyle. The 4% rule states that if you begin by withdrawing 4% of your nest egg's balance your first year of retirement, and then adjust subsequent distributions for inflation, your savings should last for 30 years. The 4% rule is based on certain assumptions that may not apply to your retirement portfolio.