Two Methods to Figure Out Your Retirement Income Needs

Two Methods to Figure Out Your Retirement Income Needs

The first step for your retirement plan (since retirement failure is not an option) is figuring out how much you’ll need in retirement.

How Much Will You Need In Retirement?

Your best bet to get a plausibly accurate number is to build a retirement budget like I did, using the following steps:

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Worried you can’t forecast accurately?

Don’t worry, you can’t. As Nobel-laureate physicist Nils Bohr quipped, “It’s hard to make accurate predictions, especially about the future.

Another Approach – Budget A La Carte

Using my tips, you can then improve the accuracy of the resulting budget.

The first step for your retirement plan (since retirement failure is not an option) is figuring out how much you’ll need in retirement.

Potential Retirement-Budget Busters And How To Prepare For Them

The Bottom Line

The best way to prepare for these is to educate yourself about them and implement solid mitigation strategies.

Money Management

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