How WCI Readers Live, Worry, and Withdraw Money in Retirement

For years, WCI readers have been telling us they want to consume more retirement content. We've been listening and responding.

WCI founder Dr. Jim Dahle wrote an extensive series on retirement withdrawals . . .

. . . and we have two columnists (Anthony Ellis and Erik Hofmeister) who mostly write about retirement.

Yet we wanted to produce even more posts and discussion—talking about everything from withdrawal strategies to how to live your life without work—so we created a questionnaire that gets to the heart of the matter. We asked 15 questions to determine how those who have retired got there. For example, what was their asset allocation in their earning years, and what is it now? What has been their highest net worth? How are they drawing down their accounts in retirement? What's the best thing about retirement? What's the worst?

So far, more than 140 readers have responded, filling us in on their most intimate financial details, strategies, and worries so they could pay it forward to the next generation of retirees. Here are all the survey results we've published so far.

  1. Real Life Examples of How WCIers Live, Worry, and Withdraw Money in Retirement
  2. We Keep Saying, ‘We Can Afford It, Spend the Money!’
  3. ‘I Got Poor Advice from an Accountant . . . That’s a Big Regret’
  4. It Felt Awkward to Have More Time and a Slower Pace’

From the 16 anonymous WCIers who we've featured so far in this series of articles, here's some extra data on how they compare:

Annual Spending During Peak Earning Years

  • Average: $177,000
  • Highest: $400,000
  • Lowest: $70,000

Annual Spending in Retirement

  • Average: $196,071
  • Highest: $360,000
  • Lowest: $70,000

Peak Net Worth

  • Average: $7.11 million
  • Highest: $28 million
  • Lowest: $1.1 million

Current Net Worth

  • Average: $7.10 million
  • Highest: $28 million
  • Lowest: $1.1 million

Age at Retirement

  • Average: 59.12
  • Oldest: 73
  • Youngest: 42

This has turned into a regular series on the WCI blog, so if you're retired and interested in contributing your own gameplan, you can find the questionnaire here (and don't worry, we'll keep you anonymous).