How Much Do You Need to Retire?
Many times when planning for retirement people focus on maximizing contributions. It’s often assumed that by doing so everything about retirement will fall into place. That may be so, but how do you know if you’re succeeding until you’ve defined your target? When it comes to retirement, the targetâ is a credible income number, as in how much will you need to live the life you want to live, taking into account your expected living expenses, sources of income, and the effect inflation will have on it. You can do that by going through some steps. Figure out how much income you’ll need in retirement To keep the calculations simple, many financial planners advise using a simple method, such as 80{6f482cd57796f86e9ad1be82bcf1dcf19049bb2b279893497447a8f8ed9023fd} of pre-
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