Sentences with phrase «thumb for retirement savings»

Not exact matches

As a rule of thumb, Thompson recommends saving 10 times your income by retirement age, in which case, «a million is a good savings target for someone earning $ 100,000,» she said.

Rather than attempt the complex calculations necessary to arrive at an optimal strategy for drawing down and spending their retirement savings, retirees rely on easy - to - follow rules of thumb, such as the 4 % rule advocated by some financial planners.

First, there's the popular rule of thumb that says that, for retirement savings, you should take 100 and subtract your age.

These rules of thumb represent my judgment about when it generally makes sense to choose the Roth account for your retirement savings.

But these rules of thumb can at least provide a reasonable framework for planning in the face of many unknowns, allowing you to set a savings target and then periodically revisit the calculator to monitor whether you're making progress toward your retirement goal.

But frankly, I don't think there's any valid rule of thumb for how much of your savings should go into an annuity, any more than there's a universal standard for how much you can safely withdraw from your retirement stash each year or how much of your savings should be invested in stocks.

c A rule of thumb like 70 % to 80 % of pre-retirement income is okay for setting a savings target when retirement is many years away.

The common rule of thumb many advisors use, for determining the adequate amount of income to withdraw from your retirement savings, is known as the 4 % rule.