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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 ...
3. Use an online retirement calculator. Now it’s time to zoom in a little. To get a clearer snapshot of your progress, use an online retirement calculator.
For example, if Denise decides to retire at age 60, she’d have $1,225,721 in retirement savings (using the aforementioned calculator). This results in a retirement income of $123,815 a year or ...
Use a Retirement Calculator Take advantage of online retirement calculators, which can help you run different scenarios and fine-tune your savings goal based on various factors. Ridofranz/istockphoto
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Use an Online Retirement Calculator One of the best ways to determine whether you have enough savings and other sources of income to get you through retirement is to make use of online retirement ...
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