In light of last year's brutal market crash, it's more important than ever for retirees and those nearing retirement to prepare a strategy for withdrawing money from their nest eggs, say financial planners at Mason Investment Advisory Services Inc.

Mason's advisers have been talking a lot lately with clients about reasonable rates of withdrawal and investment strategies that can help make their savings last for a retirement that could be 25 or 35 years long. "If an investor is going to stick with a program, you need to set their expectations properly," says Scott George, chief investment officer of the Reston, Va., firm.