By John Mauldin
How much money do you need to retire?
Answering this question is one reason a good financial advisor is worth every penny you pay them. But let’s talk about some generalities.
Say you want to stop working at 65. You’re in good health and your family tends toward long lives. You expect to reach 90, having been retired for 25 years.
Will Social Security alone be enough? Probably not.
Let’s do the math…
Not Much Security
If you spent most of your life paying as much as legally possible into the system, and you retire in 2019 at age 65, your monthly benefit will be $2,757. It jumps to $3,770 if you delay retirement until age 70.
Here’s the distribution.
http://www.investmentwatchblog.com/the-average-american-cant-save-enough-to-retire/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
| 