The 4% rule advises retirees to withdraw 4% from their accounts yearly. A Reddit user’s 70-year-old friend is hesitant to retire due to concerns about the rule’s longevity. Experts now suggest a 3.7% withdrawal rate due to longer lifespans and lower investment returns. Personalized financial advice may be more beneficial than following generic rules.

Many Americans underestimate retirement needs. Those with one specific habit have double the savings. This habit doesn’t involve increasing income or cutting expenses. Retirement planning should be individualized, and seeking professional advice is crucial. It’s essential to be confident in your retirement plan to avoid financial insecurity later in life.

Read more at Yahoo Finance: Are They Right to Fear the 4% Rule?