Are you saving enough for retirement? Do a self checkup now.
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- Опубліковано 9 лип 2024
- You should be monitoring your Retirement Accounts and keeping up with your financial stability before you get ready to retire. Some advice on that subject.
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Great advice! A few of my work buddies sometimes call to talk and have asked me about living off a retirement income because they are getting close to their own retirement. One of my suggestions is to them is to try it out by setting up a budget of what they would bring in when they retire and to live off of that budget for a while...put any extras into their savings and that way they know they can live off of their retirement income. Good video and great advice, check statements early and get acquainted with all of your accounts well before you retire.
I really need to sit down and come up with my own Retirement Budget. So much to do and so little time to get it done.
New subscriber here! Looking forward to your future content.
Thank you for Subscribing. I am just getting started on my journey into Retirement
Most professionals recommend 4% draw on your 401k. Then increase it by the rate of inflation each year. It’s called the 4% rule. There was a lot of research that went into it. Taking some of the worse markets in history. The 4% rule was able to survive a 30 retirement.
That's good to know Bob. I will have to research that. Thanks for the advice.