April 26, 2017

Do you have enough money to retire?

A common question for pre-retirees is whether they have enough money to retire. Of course, the most accurate answer is: "It depends." How long are you likely to live? What lifestyle do you desire? What "guaranteed" sources of income do you have and how secure are those sources? What health expenses will you face? Will you need long term care? Here is an article from US News and World Report to help individuals answer this question. Keep in mind that spending is likely to vary widely with many retirees spending much more in the first "go-go" years of retirement than they did while employed because now they have time to travel, golf, recreate, and might want to buy an RV trailer or second home. Check out Brian O'Connell's article: http://money.usnews.com/investing/articles/2017-04-25/how-to-know-if-youre-underfunded-in-your-retirement-account

1 comment:

  1. Owning a home can give seniors some sense of security to help cover the cost of retirement. Selling the house, downsizing, or a RAM are ways to help fund retirement.


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