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I'm 63 and planning to retire. I watched in horror as the markets tanked. Will I have enough to get me to my 90s?

The article discusses the concerns of a 63-year-old individual planning to retire soon, who is worried about the recent market downturn affecting their retirement savings. With $1 million saved, the retiree questions if this amount will be sufficient to last until their 90s. Financial experts suggest that while $1 million can provide a comfortable retirement, several factors need consideration: the withdrawal rate, inflation, investment strategy, healthcare costs, and potential income from other sources like Social Security or pensions. They recommend a conservative withdrawal rate of around 4% annually, adjusting for inflation, which could potentially make the funds last, but stress the importance of a diversified investment portfolio to mitigate risks and ensure the longevity of the savings. Additionally, the article touches on the psychological aspect of watching one's nest egg fluctuate with market changes, advising retirees to have a well-thought-out plan and possibly consult with a financial advisor to tailor their strategy to their specific circumstances.

Read the Full MarketWatch Article at:
[ https://www.msn.com/en-us/money/retirement/i-m-63-and-planning-to-retire-in-a-few-months-i-watched-in-horror-as-the-markets-tanked-will-1-million-get-me-to-my-90s/ar-AA1B92J1 ]