When it comes to retirement, the 4 percent rule just doesn't cut it for most people.
That's according to a new PwC US report that says the notion of withdrawing 4 percent per year in retirement may work for the wealthy but could be disastrous for everyone else.
If Americans stick to the idea of 4 percent annual withdrawals — which has been de rigueur since 1994 — they'll run out of money before they run out of retirement, PwC said. Even the affluent will see their wealth significantly reduced.
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