Retirement

Will You Be Able to Afford to Retire? – Have you determined how much you should have saved by the time you retire so you won’t need to lower your living standard? The answer is subject to many factors including your life style, life expectancy, inflation, taxes, and return on your retirement savings. Assume you’ve determined you need $24,000 per year in today’s dollars to supplement social security, and you expect to retire in 25 years. At a 3% inflation rate, $24,000 today will be equivalent to $50,000 then. At a 5% payout rate, you will need to have saved $1 million by the day you retire! How do you do that? Is it even possible? Call us to help you develop a plan so you will be able to afford to retire – in style!