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Friday, November 21, 2008
Selena Maranjian :: Townhall.com Columnist
The Cost of Cashing Out
by Selena Maranjian
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Poll
Will the Dems' health care Christmas Present to America be an improvement or detriment to our health care system?


9.2%

Schlumberger (NYSE: SLB)

10.6%

General Mills (NYSE: GIS)

13.4%

EMC (NYSE: EMC)

24.5%

Source: Yahoo! Finance.

The overall stock market has averaged just 10% over many decades, and over the past decade, it has actually lost ground. So why set yourself up to face a higher hurdle than you have to?

In perspective
If you're tempted to cash out your 401(k) today, stop and give a thought to tomorrow. You might reap $30,000 today, which could buy you a new car or help you pay off some of your debt, but it will also rob you of some critical income in retirement. According to our Rule Your Retirement newsletter service, in order to make your nest egg last, you should conservatively plan to withdraw about 4% of it per year in retirement. So, 4% of $233,000 would be more than $9,000 per year -- for the entire span of your retirement.

If you're like to set yourself up for an unpainful retirement, try our Rule Your Retirement newsletter service for free, with full access to all past issues. It regularly offers recommendations of promising stocks and mutual funds, too.
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About The Author

Selena Maranjian prepares the Fool's syndicated newspaper column, writes articles for Fool.com, has coordinated the Fool's annual Foolanthropy charity drive, and has written a number of Fool books, among other things.

Be the first to read Selena Maranjian's column. Sign up today and receive Townhall.com delivered each morning to your inbox.

©Creators Syndicate

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