senior white couple walking on a sunny beach, waist up, side view, close up

How to Make Your Retirement Savings Last

We spend so much of our lives working hard and trying to save up enough of a nest egg to last us through our golden years. But exactly how much money is that? If you’re a pre-retiree and find yourself asking, “How long will my retirement money last?” . . . you’re not alone. 

A recent study by Gallup found that “Non-retirees’ outlook has been consistently lower and subject to swings based on the national economic climate.1 Overall, the study found that only 43% of nonretired Americans believe they will retire comfortably while 77% of actual retirees are currently living comfortably in their retirement.2 

How To Make Your Retirement Savings Last

Here are some ways to help you get retirement-ready now so you can make your nest egg last during your golden years: 

1. Pay off your mortgage before retirement. 

One of the ways you can make your retirement savings last is by paying off your mortgage early. Not having a mortgage payment will go a long way in helping you make your savings last. 

2. Live on less than you make. 

It’s important to create a monthly retirement budget and stick to it and live on less than you’re paying yourself from your savings each month.

3. Say goodbye to debt. 

Make a goal to pay off all credit cards, medical debt, and other debts before you retire. That way you can keep more of your money where it belongs: your pocket. 

4. Implement a withdrawal strategy. 

There’s wisdom in finding a withdrawal strategy that will help you keep your retirement savings around for the long haul. Utilizing the 4% rule, delaying your social security benefits, and considering a fixed annuity may be beneficial for you. 

Withdrawal Strategies to Make Your Retirement Savings Last

The best retirement withdrawal strategy is the one that works for you! You could use a safe withdrawal rate calculator or you could implement a withdrawal strategy. Here are some common strategies that will help you make your retirement savings last:

The Required Minimum Distribution (RMD) Strategy

This strategy takes the legal RMD into effect and capitalizes on it. Required minimum distributions kick in on most retirement plans once you turn 73 years old. The amount of withdrawal required is specific to your account and life expectancy. Visit to learn more.

The 4% Rule

The 4% rule is one of the more conservative withdrawal strategies out there. Here’s how it works: the first year of your retirement, you’ll withdraw 4%. In the second year, you’ll withdraw 4% plus inflation. You’ll continue this every year throughout your retirement. The goal with the 4% rule is to last you at least 30 years.    

Dynamic Withdrawals

Vanguard and Guyton-Klinger are two well-known dynamic strategies. Both of these strategies are great for retirees looking for some spending freedom in their first year of retirement. But depending on which dynamic strategy you implement, the percentage withdrawn after the first year will be based on the economy and the current state of the stock market.  

The Bucket Strategy

The bucket strategy focuses on timing of investments and needs rather than on a certain percentage. Investments are organized based on the income you’ll need within the first three years. The next bucket will support you in years four to six. The third bucket will be for years seven to nine. And the final bucket is for funds you won’t touch until after your first 10 years of retirement. How you decide to treat your investments in each bucket is based on the amount of time they’ll be sitting there. 

There are so many different strategies out there to help you make your retirement savings last. Remember, the best strategy for you is the one that helps support you throughout your golden years. So, if you’re in your pre-retirement years, now is the time to start planning out your dream retirement with a trusted financial advisor. 

Download our Retirement Guide here for a free checklist that will help you get started. Then, talk with a SageSpring Wealth Partner to start working on your plan today.

Jeffrey Dobyns
Jeffrey T. Dobyns


President, SageSpring | Financial Advisor, RJFS 

Jeffrey T. Dobyns

President, SageSpring | Financial Advisor, RJFS

Jeff Dobyns is President and Founder of SageSpring Wealth Partners. Passionate about serving his clients, he strives to truly get to know them, understand their goals, and provide them with financial confidence before developing and executing ongoing, strategic financial plans. 

In order to meet the highest standards of professionalism and ethics in the industry, Jeff is a CERTIFIED FINANCIAL PLANNER™ professional, a Chartered Life Underwriter, a Chartered Financial Consultant, and a participant of the Dave Ramsey SmartVestor referral service program.

Jeff has held executive positions with financial planning firms for more than two decades. He served as VP of Investments of Lykins Financial Group CPAs before founding SageSpring in 2002. Jeff has been recognized for his unwavering commitment to his clients, and as a leader among Raymond James financial advisors, earning membership in Raymond James Chairman’s Council every year since 2008.

Jeff devotes considerable time and resources to a number of causes. He serves as Chairman of the Board of Men of Valor, a prison ministry and mentoring program. He is on the advisory board of The Signatry of Middle Tennessee, which works with families to increase their charitable giving to their favorite causes, as well as the advisory board for Halftime Institute of Nashville, an organization that coaches marketplace leaders to discern and engage in their life purpose. Jeff also serves on the board of Send Musicians to Prison, which shares hope, healing and restoration with the imprisoned through musicians & artists. He is a past board member of Porter’s Call, a Nashville charity that provides free counseling for musicians and their families, and the Martha O’Bryan Center, which empowers those in poverty to transform their lives through work, education, employment, and fellowship.

Jeff and his wife, Amy, are grateful to be raising their four children, Gracyn, Hunter, and twins Tanner and Logan at Christ Presbyterian Academy. Jeff enjoys being outdoors with his family- boating, hiking, skiing, hunting and fishing.

Ramsey Solution’s relationship and agreement is between SageSpring Wealth Partners only. Raymond James Financial Services, Inc. is not affiliated with the solicitor arrangement between Ramsey Solutions and SageSpring Wealth Partners.

Membership is based on prior fiscal year production. Re-qualification is required annually.  The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of an advisor’s future performance. No fee is paid in exchange for this award/rating.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP® (with plaque design) in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.