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much do I really need to retire?
By The-Adviser.com -
- Some people use a rule of
thumb that says you need sufficient assets to generate 75% of
your pre-retirement income. This rule may be too general. When you are
retire, you spend
differently than while you were working. Accordingly, it is your planned retirement spending that counts more
than your retirement income.
Instead of relying on the rule of thumb, you need to determine what your post-retirement expenses will be. By the time you retire the following things may no longer be expenses:
Certain expenses may increase. Consider the following:
Dont forget to adjust your spending for the rate of inflation. When you figure out your planned spending, then you will need to know how much you retirement income you will need.
Determine your retirement spending habits.
Many expenses you think will go down will actually go up
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