Sentences with phrase «counting on your retirement savings»

Not exact matches

That's particularly true for older workers who might be laid off in their peak earning years, when they had been counting on catching up on retirement savings.

If your savings balance is low, and you're counting on Social Security to help make ends meet in retirement, be aware that the monthly check you get might not be enough.

The idea is that you part with some of your savings today to assure you'll still have guaranteed income you can count on down the road, even if you overspend earlier in retirement.

With Canada Pension Plan, Old Age Security, some TFSA savings and a small company pension awaiting her, Rebecca will be able to count on a fairly comfortable retirement.

But even if someone needed retirement income of $ 60,000 a year and could count on Social Security for, say, $ 20,000 of that income — in other words, $ 40,000 a year would come from savings — that would still require a nest egg of about $ 1.3 million at a 3 % withdrawal rate ($ 40,000 divided by 3 % equals $ 1.3 million).

The simple fact is that if you're going to be counting on your savings to fund a long retirement, a portfolio without stocks will have a hard time generating the returns needed to support anything other than very low levels of withdrawals, especially given today's low interest rates.

Clearly, we all have to make our own decisions based on our particular circumstances about the best way to turn savings into income we can count on throughout retirement, while also assuring we have a stash of assets we can tap for emergencies and unexpected expenses.

The $ 183,000 we've saved doesn't count any of our retirement savings because that's something I don't touch and don't plan on it until the time is right.

It will serve as a valuable reminder that when you're investing the savings you'll be counting on to support you throughout retirement, a broadly diversified portfolio is the right way to go.

Let's say that you and a bunch of your friends, all age 65, would like at least some of your savings to generate steady income you can count on throughout retirement.

Knowing you can count on those payments late in life may also give you the confidence to invest the rest of your savings a bit less conservatively, which can boost your potential returns and increase your retirement income.

Start with a reasonable initial withdrawal rate: Once you understand how many years you may be counting on your retirement accounts to supplement Social Security and any other sources of income, you then want to gauge how likely your savings are to last for as long as you need them to given different withdrawal rates.

(1) Whole life on him (retirement savings, so this probably doesn't really count)(2) Term life on me (3) Large amounts on our auto insurance (4) Maxed out homeowners insurance (5) Umbrella insurance (6) disability ins on him (7) flood ins (not required)(8) earthquake ins (not required)(9) health insurance