Investors planning for retirement often ask, “Will I have enough money to retire and live the lifestyle I’ve envisioned?” The following retirement planning facts address your common concerns and help you gain a better understanding of what retirement planning steps you may need to take.
Many sources say your retirement savings should total 10-20x your current income. You'll need 70-80% of your pre-retirement income in retirement. Real life has shown us that very few people actually WANT ro reduce their lifestyle after retirement. So you may need 100% of your income.
You can safely withdraw 4% of your retirement savings each year without running out of money.
For all of the retirement planning facts outlined above, your biggest need is preparation. And there’s no better way to prepare for retirement than with a thoughtful strategy. If you need support to ensure that you’ll have enough money to retire when and how you want, speak to an experienced advisor.
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