Financial planning, U.S. Social Security programs, and 401(k) savings accounts are discussed, as well as taxable income, lifetime salary expectations, and personal budgeting.Jonathan ClementsEbony
People are living longer and retirement income needs to keep pace. We look at how you can judge how much you need to retire. One fundamental aspect of retirement planning is understanding how long your money will need to last. However, the answer is always likely to be uncertain. If we ...
Amy wants to retire at age 67, so she will need to have saved 10x her preretirement income. John plans to retire at age 65, so he would need to have saved at least 12x his preretirement income. Of course, you can't always choose when you retire—health and job availability may be...
Some people think a job not only provides income but also a social life. Others think it is better to develop a social life with people you do not work with. Discuss both views and give your own opinion. Give reasons for your answer and include any relevant examples from your own knowled...
“You must revisit your retirement income plan to make sure your retirement income is enough to exceed expenses so that you do not risk having to unretire or, worse, run out of money,” says Beau Henderson, a retirement income certified professional and founder of RichLife Advisors in Gainesv...
Two retirement experts weigh in on what to do if you're nearing retirement and haven't saved enough. Getty Images Experts atFidelity Investmentssay that to retire by age 67, you should have 10 times your income saved. That means if you earn $56,524 per year (the average yearly earnings...
Daydreaming about retirement can be easy—but how much do you really need to retire? Find out more about planning for a comfortable retirement here.
“You must revisit your retirement income plan to make sure your retirement income is enough to exceed expenses so that you do not risk having to unretire or, worse, run out of money,” says Beau Henderson, a retirement income certified professional and founder of RichLife Advisors in Gainesv...
and considering your lifestyle. To determine if you'll have enough, you can use the 4% rule. Once you have a clearer picture of what retirement will look like, and whether you'll have enough, you can start setting things in motion for when you retire: choosing a retirement date, gettin...
like traveling or taking up a new hobby. But, you'll need a steady source of income to accomplish this, especially when you consider thatSocial Securityprobably won't be enough to maintain your desired lifestyle.