How Much Do I Need for Retirement?
Do you know your retirement number? Consider the factors that go into estimating your retirement savings goal and decide how much you’ll need to live your retirement dream.
Do you know your retirement number? Consider the factors that go into estimating your retirement savings goal and decide how much you’ll need to live your retirement dream.
You spend most of your adult life saving for retirement, but have you ever thought about what you’ll do once it’s time to tap into those savings? Learn the different strategies you can use to provide yourself with a retirement income.
According to the Investment Company Institute, it is estimated that there are over $20 trillion in retirement accounts as of December 30, 2013. Retirement accounts make up the majority of many people’s assets, and unfortunately, many owners of IRAs and their financial advisors are not fully aware of the complicated tax laws regarding distributions of these retirement accounts.
Retirement accounts are different than other investment accounts!
Did you just realize you haven’t been saving for retirement as adequately or early as is necessary? Here is a quick infographic to help you make up for lost time and get back on track:
Compounding is often referred to as “magical” because of the way it can help your savings grow; Luckily for you, compounding has nothing to do with magic and everything to do with simply math and patience.