Congratulations, you’ve made it. You’re retired! Now there’s no boss, no timeclock, no morning commute, and no rules. Right?

Well, not so fast.

While the first three might be true, there are still some rules you need to follow if you want your retirement to be as rewarding and pleasant as you’d imagined. Specifically, regarding your nest egg.

“What do you mean, there are still rules?”

The Motley Fool suggests five financial rules that many retirees should follow.

How much of your retirement funds can you withdraw each year? Many consider the 4% rule to be outdated. Instead, the Center for Retirement Research suggests around 3% to 16% depending on your age.

How much of your nest egg should be in stocks? The traditional answer is a percentage equal to 100 minus your age, but The Motley Fool suggests modifying this slightly.

If you’re close to age 70 or above, you also have to remember the Required Minimum Distribution rules. Marketwatch also suggests keeping at least three years of RMDs in cash, so you avoid having to sell shares during a market downturn.

Read The Motley Fool article here and leave any comments below.