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For an interest-only retirement, you’ll need to have a large nest egg. How big a nest egg depends on your target income and the interest rate. For example, an annual income of $48,000 would ...
Rule of 25: After accounting for her Social Security and other sources of retirement income, Katie plans to spend $40,000 a year in retirement. 40,000 x 25 = $1 million, so Katie would need $1 ...
Financial planners use various models to project what you'll need in retirement. Find out how your $3 million nest egg could safely pay $120,000 a year.
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The rule number (e.g., 72) is divided by the interest percentage per period (usually years) to obtain the approximate number of periods required for doubling. Although scientific calculators and spreadsheet programs have functions to find the accurate doubling time, the rules are useful for mental calculations and when only a basic calculator ...
A retirement calculator, like this one provided by AARP, can help you identify any shortfalls and give you a clear idea of how much more you need to save. Be Aware: Avoid This Retirement Savings ...
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