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Social Security poll; Withdrawing from retirement accounts for cashflow needs
Is Social Security going to be around when you need it? Chris and Jeff talk about a CNBC Social Security poll that shows bi-partisan support for reducing benefits for high earners, raising the amount of Social Security benefits, raising the retirement age, and increasing payroll tax.
They discuss a Schwab article about when to take Social Security and how much you can withdraw annually from your portfolio for cashflow needs. People are often uncomfortable about taking withdrawals after they have saved so long for retirement.
The general rule has been if you are in a 50/50 type portfolio and…
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