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Reply to "Switching to spending down savings "
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[quote=Anonymous]My parents saved really well for retirement and had a lot of trouble switching from saving mode to spending mode. The single best thing they did was hire a financial advisor. During the saving years, they managed it all themselves, but it turn out to be much harder deciding where and when to pull from their savings (and the associated tax implications) then where to invest when they were accumulating it. The financial advisor does all that mental work for them. Plus every six months he maps out what they’ve spent, what they had to pull from various accounts and how that impacts future withdrawals and assumptions. I do not currently have a financial advisor but after seeing the mental lift having one provided them in retirement, I will definitely get one at that point. [/quote]
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