Sentences with phrase «retire at the income level»

Reduce — I can't retire at the income level I thought I would, but I can retire at a lower level that I can live with.

Not exact matches

Referring to the need to withdraw more than the legal minimum from a Registered Retirement Income Fund (RRIF), Armstrong says people who retire early or phase gradually into retirement by reducing their work hours «will likely be at lower income levels than when they were engaged in full - time work.&Income Fund (RRIF), Armstrong says people who retire early or phase gradually into retirement by reducing their work hours «will likely be at lower income levels than when they were engaged in full - time work.&income levels than when they were engaged in full - time work.»

For example, go to a tool like T. Rowe Price's Retirement Income Calculator, plug in a $ 1 million portfolio and assume an initial 4 %, or $ 40,000, withdrawal that will subsequently be adjusted by the inflation rate, and the calculator will estimate that there's roughly an 80 % chance that your nest egg will be able to sustain that level of withdrawals for at least 30 years, or, if you retire at 65, until you reach age 95, a reasonable planning assumption given today's long lifespans.

To answer this one, you need to look at the level of your taxable income today versus the taxable income you expect when you retire.

The Automatic Millionaire starts with the powerful story of an average American couple — he's a low - level manager, she's a beautician — whose joint income never exceeds $ 55,000 a year, yet who somehow manage to own two homes debt - free, put two kids through college, and retire at 55 with more than $ 1 million in savings.

Your monthly Social Security income in retirement is based primarily on your earnings level throughout your working career, along with the age at which you retire.