«Over the course of a 25 - or 30 - year retirement, it reduces
anticipated Social Security income by tens of thousands of dollars.»
Not exact matches
Once you've decided how much of your pre-retirement
income you'd be comfortable living on, subtract any pension or
Social Security income you
anticipate receiving to find the amount of money you'll need your investments to contribute.
If you
anticipate receiving
Social Security benefits, you can estimate replacing 70 % of your pre-retirement
income.
For example, if you can live comfortably on $ 60,000 per year and
anticipate $ 42,000 in pension or
Social Security income, you'll need your investments to kick in $ 18,000 per year.
For many pre-retirees, their
anticipated retirement
income may be less reliant on traditional pension plans and
Social Security, and more reliant on a «pieced - together» approach.
For many pre-retirees, their
anticipated retirement
income may be less reliant on traditional pension plans and
Social Security, and more reliant on a «pieced - together» approach.