Ideally, you'll enter retirement with a decent amount of money socked away in a savings plan. And from there, it'll be on you to manage that money wisely to ensure that it doesn't run out on you.

To that end, you may be inspired to follow the 4% rule. The rule states that you should withdraw 4% of your savings balance your first year of retirement, and from there, adjust future withdrawals for inflation. If you stick to the rule, there's a strong chance your savings will last for 30 years, which gives you a pretty good cushion.

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Source Fool.com