Last week we focused upon the basic question anyone needs to ask about retirement. “What income will I need when I cannot, or will not, be involved in full time work?” Everyone will come to a point in time when the skills and abilities diminish to a point others may do our job better. No one escapes the aging process, and some will experience this earlier and […]
Have You Calculated Your Retirement Need?
A rule-of-thumb that many have used to plan for retirement is that an individual or family will need 70% of their pre-retirement income to sustain the quality of life in their retirement years. That was the conclusion of The Center for Retirement Research at Boston College as they sought a proper income replacement amount.1 Barry S. Warner, CEO of Informed Family Financial […]