How Much Should I Plan For Retirement?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    Only you can answer that question.  Figure your fixed costs after retirement, your plans (do you plan to travel?), and other individual factors. Also deduct out social security if you want to figure out how much additional savings you need to meet your goal.  My opinion is at least 80% of current income on average but that is not written in stone, every case is different.  Sit down with a good agent familiar with retirement planning.  He or she can help you put together a good plan for a comfortable retirement.
    Answered on May 26, 2013
    flag this answer
  2. 0 POINTS
    Contact Me
    David RacichPRO
    Fountain Hills, Arizona
    You should plan greatly for retirement based on new mortality projections, inflation erosion and products that generate returns based on your financial profile and risk tolerance. If your tax bracket is high, you should consider qualified plans, especially if your employer matches any portion of your contributions. If your tax bracket is low and there’s no employer match, then you may want to look at non-qualified options that generally less restrictive and may have more liquidity.

     
    Answered on May 26, 2013
    +0
    1 Thumb up 0
    +1 this answer
    flag this answer
    3. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>