January 25, 2015
Focus on retirement INCOME rather than the "number"
Rather than fixating on a specific $ goal (aka the "number"), investors nearing retirement (ages 55-64) should focus on the amount of income their investments will be able to generate in retirement based on current inflation, rates, of return . Check out Blackrock's CoRI™ calculator http://www.blackrock.com/cori/cori. It's a simple to use tool that shows how much annual income your investments can generate. While it is limited to the assumption that one retires at age 65 and lives an average lifespan (and most readers of this blog are likely to live longer than average), it is a useful tool. Check it out.