Retirement ushers in the luxury of time that enables you to follow your passions and relax. If you have a lump sum at retirement, a systematic withdrawal plan (SWP) can be an excellent tool to provide consistent income.
Calculate monthly expenses
First, assess your financial needs and goals. Calculate your monthly expenses, factoring in essentials like healthcare and lifestyle needs, as well as inflation and emergencies. This will help you determine the monthly income needed from your investments.
