I Don’t Want to Outlive My Money

Once you retire, you need a balance of growth, income and stability.

Ted Jones intended to retire two years ago. But after the markets tanked, he decided to keep working to defer tapping his investments. Jones, 63, a former Army major who lives in Lorton, Va., retired from military life in 1992 but has stayed on with the Army as a civilian.

Now Jones is getting ready to retire again. To maintain the lifestyle that he and his wife, Chong, 64, are used to, he figures they need to draw 4% of their investments annually. He also hopes to be able to leave something to the couple’s two sons and four grandchildren.

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Elizabeth Leary
Contributing Editor, Kiplinger's Personal Finance
Elizabeth Leary (née Ody) first joined Kiplinger in 2006 as a reporter, and has held various positions on staff and as a contributor in the years since. Her writing has also appeared in Barron's, BloombergBusinessweek, The Washington Post and other outlets.