Retirement planning is complicated.

Fewer retirees can rely on pensions, so more people have to find retirement income elsewhere and navigate issues like managing taxes while withdrawing from different kinds of accounts, when to take required minimum distributions, and determining the appropriate asset allocation for their retirement portfolios.

Here are three tricky decisions that confront people planning for retirement today.

Decision 1: How Much to Withdraw Each Year in Retirement

It’s impossible to determine the “right” withdrawal rate at the outset of retirement.

A 4% starting withdrawal rate, with annual inflation adjustments to that initial dollar amount, is often cited as a “safe” withdrawal system for new retirees. In 2021, our research suggested that 3.3% was a safe starting

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