Retiring with less than $1 million might feel daunting, but the good news is that a strategic approach can make this a realistic goal. With rising costs and longer life expectancies, the median retirement savings in the U.S. stands at only around $144,000 for those between 55 and 64, while the average Social Security benefit …
When considering how much money you need to retire, the answer isn’t straightforward—“It depends” is often the starting point. While there are general guidelines and theories, actual retirement needs vary widely. Based on my 30 years of experience, I’ve found that every person’s retirement looks different, though some common factors are worth considering. Assess Your …
When building your retirement income plan, you first need to have a good understanding of your goals, particularly your needs versus wants. An example might be: “I need $2,000 per month in income from my investments, and I want to leave $250,000 to my kids.” Second, you need to understand how investments pay you. While …
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