How Much Do You Need to Retire?

annuity educationI see commercials and ads all the time talking about the magic number that one needs to be able to retire.  There are differing opinions on this topic and even the so called experts can’t even seem to agree.

 

One report is saying you will need at least eight times your annual salary while others say you will need to add up your annual spending and multiply that number by 25 to figure out your magic number. This is just two of many theories.  This really creates major confusion for the average American and it’s no wonder why a lot of folks are procrastinating on creating a solid plan for retirement.

 

The simple fact is….there is no set magic number.  The amount of money I need in retirement is not going to me the same amount you need in retirement.  It really doesn’t make sense to look at one number because there are so many variables, like when you are going to retire, spending habits, long term care, amount of social security you will receive, unexpected illnesses/deaths, and many more.

 

For a retirement solution that baby boomers cannot outlive, give us a call at Retirement Think Tank at (855) 888-6494 or email us at info@annuitythinktank.com.  We would welcome the opportunity to speak with you!

 

Compare Annuities | Compare Annuity Rates | Retirement Advisor Locator

space Please show your support for this article by clicking on the social media icons on this page!
space
The articles displayed in RetirementThinkTank.com are for educational purposes only. This website of course does not know you, so do not rely on it for making final decisions for your insurance, investment, or tax needs. Always be sure to seek out personalized guidance from a licensed advisor/agent in your state for your insurance, investment, or tax planning needs.

Tags: , , , , , , , , , ,

2 comments

  • Hello, guest