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Retirement - How Much You'll Really Need |
| Published: November 27, 2007, 7:47 pm |
| Tags: finance |
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by The Mole, Money Magazine's undercover financial planner Sure, you could live more cheaply in retirement. But some costs will go way up. Question: My wife and I are both 55 and plan to retire in two years. Our combined yearly income is approximately $240,000, and I keep reading that you need 70 percent to 80 percent of your pre-retirement income when you retire. I may be naive, but I don't think that's true for us. What do you think? The Mole's Answer: You're referring to an old rule of thumb that...(read more) [ Full article ] |
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