Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Is Social Security Going To Run Out In Your Lifetime?

We get regular updates on the Social Security trust fund. In early May, the Social ...

The post Is Social Security Going To Run Out In Your Lifetime? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Thriving on the Uncertainties In Investments

We all like surprises, right? Well not exactly. We like the surprises that we want. ...

The post Thriving on the Uncertainties In Investments first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and ...

The post 9 Facts About Retirement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more

How Much Money Do I Really Need to Retire?

July 18, 2022

There’s plenty of retirement advice out there and of course your level of savings will depend on your individual goals, your current income and anticipated other costs in retirement, such as whether or not you will still be paying for a mortgage. Generally, experts recommend that your retirement income sits at about 80% of your final pre-retirement income. This means that if you make $100,000 a year at the time you retire, you would need to have enough funds set aside to pay $80,000 per year to provide you with a comfortable lifestyle after leaving the workforce. 

Remember that there are many different assets that can be considered as part of this, such as pensions, social security and retirement savings. Furthermore, you may also continue with part-time employment to help you achieve your desired lifestyle.

Another easy to use formula worth remembering is to divide your desired annual retirement income by 4% to follow the 4% rule. This can help you to determine the overall nest egg you need set aside in order to live a lifestyle similar to the one you would be living at the time that you choose to retire.

Remember that in order for the 4% rule to apply across the board, you must stick to it year in and year out. This means that this 4% withdrawal from your overall retirement account must be enough to cover all of your general expenses across the year. This is a good reminder to revisit your budget and to consider whether any other extraneous expenses could require you to adjust the amount that you have set aside to save and the amount you intend to withdraw. If you need help making sure you’re on track to achieve your retirement age and personal income goals, now is the perfect time to meet with your financial professional to discuss next steps.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Is Social Security Going To Run Out In Your Lifetime?

We get regular updates on the Social Security trust fund. In early May, the Social ...

The post Is Social Security Going To Run Out In Your Lifetime? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Thriving on the Uncertainties In Investments

We all like surprises, right? Well not exactly. We like the surprises that we want. ...

The post Thriving on the Uncertainties In Investments first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and ...

The post 9 Facts About Retirement first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more