Lifecycle Finance: An Alternative For A Lifetime Financial Plan
Some of the most common rules of thumb used to guide retirement planning include the following: Retirees should be able to sustainably withdraw 4% of their retirement date assets over their retirement, retirees should seek to replace 80% of their pre-retirement income after retiring, and households should save 10% of their salary for retirement.
Pfau, Wade, "Lifecycle Finance: An Alternative For A Lifetime Financial Plan" (2014). Faculty Publications. 126.