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When Your Paycheck Stops, How Much Will You Need?
The art of retirement financial planning calls for some sound forecasting, specifically with respect to what you’ll need in cash flow to support your desired retirement lifestyle. In other words, when job-related income stops, how much will you need to replace in the equation to stay afloat? The Motley Fool’s Christy Bieber, in a post on mcdowellnews.com, presents a discussion on this very point, observing that ” … many people aren’t being realistic when they’re estimating the amount of their pre-retirement income they’ll need to cover their costs in their later years.” She provides some insights into ways to improve one’s planning in this area. Check out her post here…