You can receive our monthly newsletter with interesting articles keeping up to date on the ever-confusing world of money. A small excerpt," Have You Budgeted for Retirement?
Creating a strategy for success. Run the numbers. There is a rule of thumb for retirees suggesting that retirement income has a target of 70-80% of the household’ send salary, though this can certainly vary. So, years before leaving work, sit down (perhaps with the financial professional you know and trust) and take a look at your household monthly expenses. 1 The closer your household gets to retirement, the more exact you will want to be about your income needs. You first want to look for changing expenses: housing costs that might decrease or increase, health care costs, certain taxes, travel expenses, and so on. Next, look at your probable income sources: Social Security, your assorted retirement savings accounts, your portfolio."
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