Retirement Spending - Don't blow your money and regret it 30 years from now. Stay on Coarse, Stay Retire Fast for a healthy Retirement!
Retire Fast LLC.
You dream of a comfortable retirement. Your dream is as unique as you. To meet your retirement goals, you need to know how much you can spend in retirement given your current investments. This will help you to identify any shortfall now, so you can ensure retiring in comfort.
Unfortunately many Americans mistakenly believe that Social Security will pay for the majority of their retirement. In reality Social Security will replace less than half of your pre-retirement income. From the U.S. Government's own Social Security web site "...Under current law, if you have average earnings, your Social Security retirement benefits will replace only about 40 percent, so you'll need to supplement your benefits with a pension, savings or investments." This assumes, of course, that Social Security is secure and will be around throughout your entire retirement.
Most financial planners suggest that retirees will need at least 75 percent of their pre-retirement pay, to ensure a comfortable retirement. Of course, if your retirement dream is to sail around the world in your own yacht, you will probably need 100 percent or more of your pre-retirement income to pay for it. This percent comes from a combination of a pension, Social Security and personal savings. Pensions are scarce, and if you are one of the lucky ones to have a pension, these are becoming less secure. Just ask any United Airlines worker.
The great U.S. comedian, Jackie Mason, once said "I have enough money to last me the rest of my life, unless I buy something." Unfortunately, many retirees seem to agree with Mr. Mason's statement, and find spending money in retirement troublesome. They fear that if they spend money on non-essential things, like travel, their money will not last throughout their entire retirement. You have worked too hard for what you have not to enjoy your retirement thoroughly.
Spend your retirement doing what you love, with those you love. Remember, you can not take your money with you. Also, you should not feel that you have to leave money to your heirs. You earned it, you spend it. From Stephen M. Pollan's bestselling book Die Broke, "wealth is to be spent while you're alive, either on yourself or your loved ones, and that every penny left unspent after you die is a failing."
Bob's free retirement calculator can help you to create your retirement income and spending plan. Using the retirement calculator, you can view your retirement savings balance and plan your withdrawals for each year until the end of your retirement. The results of your input assumptions are revealed instantly in the retirement calculator.
Whether you are three months, three years, or 30 years away from retirement, it is never too early, or late, to start planning. Through the creation of the correct plan now, you can make a big difference in how comfortable your retirement will be. You have worked hard for what you have; you deserve to make your dreams of a comfortable retirement a reality.
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