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Data source: Vanguard. If your savings seem well-aligned in your age group, you may be feeling pretty good about your IRA or 401(k) right about now.
Colleen Jaconetti, a strategist for retirement at Vanguard, digs into the balance between spending on immediate needs and saving for the future.
1. Use the Rule of 25 to get a ballpark number. A good rule of thumb to estimate your retirement savings goal is the Rule of 25.Simply multiply your desired annual retirement income by 25.
The appeal of retirement age flexibility is the focal point of an actuarial approach to retirement spend-down that has spawned in response to the surge of baby boomers approaching retirement. The approach is based on personal asset/liability matching process and present values to determine current year and future year spending budget data points.
Expense ratio: This measures how much you’ll pay over the course of a year to own a fund, and it’s expressed as a percentage. Many low-cost ETFs have expense ratios of less than 0.2 percent ...
Continue reading → The post Vanguard Says Retirees Can Add at Least $100k to Retirement Savings By Doing This appeared first on SmartAsset Blog. ... Try SmartAsset’s free retirement calculator ...
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