Many retirees worry about running out of savings at some point in time. It doesn't really matter whether you have $500,000 socked away for retirement or $2.5 million -- if you're not careful with managing your nest egg, you risk depleting it in your lifetime.

That's why financial advisors often talk up the importance of establishing a withdrawal rate and committing to it during retirement. And for years, the 4% rule was the rule to follow.

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Source Fool.com