How Much Can You Withdraw From Your Savings
(January/February 2013 Money magazine (page 116) -- No Link)
Recalculate your withdrawals every year to take into account your
current account balances and the fact that your nest egg doesn't have to
support you for as long."
"With a decision this big, you don't want to blindly stick to the 4% rule or any other rigid system..."
practical matter, though, recalculating your withdrawal rate this way
can be quite complicated. So unless you're working with a financial
planner capable of doing the number crunching for you, your best bet is
to go to an online tool like T. Rowe Price's Retirement Income
Calculator every year, plug in your most up-to-date information, and
adjust your withdrawals up or down as necessary."
agree more with this advice from Money magazine. And the online tool
"like" T. Rowe Price's that you should use is located right here in this
website. See related link below for a discussion of some of the
weaknesses of the T. Rowe Price tool.