Hedrick Smith Quotes
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.
Smith, Hedrick. "Can You Afford to Retire?" The Washington Post, 16 May 2006.
Hedrick Smith is a Pulitzer Prize-winning former New York Times reporter and Emmy award-winning producer and correspondent who has established himself over the past 50 years as one of America’s premier journalists. After serving 26 years with The New York Times from 1962-88 as correspondent, editor and bureau chief in both Moscow and Washington, Smith moved into television in 1989, reporting and producing more than 50 hours of long form documentaries for PBS over the next 25 years on topics from the inside story of the terrorists who mounted the 9/11 attacks and Gorbachev’s perestroika to Wall Street, Walmart and The Democracy Rebellion of grassroots citizen reform movements. Smith has authored five best-selling books including The Russians, The Power Game: How Washington Works, and Who Stole the American Dream, and co-authored several other books, including The Pentagon Papers and Reagan: The Man, the President. Smith is currently Executive Editor of the website ReclaimTheAmericanDream.org and the YouTube channel The People vs. The Politicians.
