You're going to need to be a good retirement income planner in order to have the funds you want for the retirement lifestyle you seek. In order to accomplish that you'll need to calculate the approximate annual income you will need less any pension income(s) and social security incomes(s) you anticipate in order to determine how much money you will personally need to generate each year to meet your plan.
A good place to start would be to use the retirement calculators section of this website. After you've "run the numbers" through the calculators, then you'll have a better basis for establishing your retirement income planner.
Historic "Rules of Thumb" for retirement income planning.
If you read a lot of articles about retirement income planning you'll find that there are some historic "Rules of Thumb" floating around on the WWW and in the media. Some of these are:
Yet, these "rules of thumb" beg the question as to the effects of inflation on your nest egg, your healthcare costs, rising taxes, home and/or auto repairs and/or replacement, what type of lifestyle you want such as travel and etc.....and the list goes on.
So, just what is a Boomer supposed to do to develop their retirement income planner?
While the Ol' Boomer, or anyone else, can't really tell you what is best for you; I've put together some links to help you get a broader "feel" for solving your retirement income jigsaw puzzle.
And please Share Your Thoughts about your retirement income planning with the rest of us for if we all pull together maybe we can be of help to
Have some great ideas? Share them!
Where to go now?
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All of the contents of this website is for informational purposes only. Should you chose to act on any information contained on this website or websites we link to without first consulting the appropriate counsel whether financial, legal, medical or otherwise; you will be acting on your own. Neither IT-BGC Information Services LLC nor any of it's members can be held responsible for any such action(s) on your part.
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