“It's probably also smart to keep some money in cash to invest it. But I would resist at all costs taking a lump-sum distribution because the tendency is to spend out too fast in the early years of your retirement. The advice of professionals is to take out no more than 5% per year and that will give you 20 years of distributions, and at your age, 55, you probably have more than 20 years life expectancy.”
![“Basing a [retirement] system on people’s voluntarily saving for 40 years and evaluating the relevant information for sound investment choices is like asking the family pet to dance on two legs,” writes Teresa Ghilarducci, an economics professor and retirement policy expert at the New School for…” quote by Paul Taylor](https://sms4smile.com/quotes/img-quotes/223/paul-taylor-21504_investing_basing-a-retirement-system-on-people-s-v_2947798.jpg)
