I'm not sure I would want to trade 15 to 25
years of retirement ease for a lifetime of misery because I saved every penny.
Not exact matches
Watch Graham F. Scott, managing editor
of Canadian Business, speak to Breakfast Television about how baby boomers are
easing into their
retirement years with non-traditional work.
But if working longer is out
of the question, you can
ease your transition by building at least a
year's worth
of living expenses in an emergency
retirement savings fund, ideally in cash, says Celandra Deane - Bess, a wealth strategy director for PNC Financial Services Group.
In his book, he says to save 10 %
of your pay for
retirement and if you can't right now,
ease into it and increase your contribution by 1 %
of your earnings each
year until you get to there.
For
ease of analysis, we assumed that retirees want $ 100,000
of inflation - adjusted spending for each
year that at least one member
of the couple remained alive in
retirement.