Rethinking Your Retirement Savings Needs
Most investment articles you read will talk about how retirees should assume they’ll need about 80% of their pre-retirement income to live comfortably in their so-called golden years. Those same articles often suggest using the infamous “4% rule” when it comes to withdrawing funds from your nest egg after you retire. Those may be the usual standards, but a recent study and report from J.P. Morgan reveals that the notion that you’ll need 80% of your preretirement income in retirement is fiction – today’s reality is that retirees need 90% or more of their preretirement income to be comfortable. And, of course, that’s a key factor which weighs heavily on whether your savings will be enough to sustain you in retirement. This Motley Fool article by Christy Bieber discusses how this new reality changes the amount of savings you should have in your nest egg when you retire. Click here to read more.
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