Understanding Retirement Budget Needs

This is a news story, published by Yahoo Finance, that relates primarily to Social Security news.

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Retirement Budget Tips

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retirement budget

SmartAsset

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Business

Business & Economics

How Should We Budget $1.5M in IRAs and $4,500 Monthly Social Security at 63?

Summary

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73% Informative

As you make your retirement budget, it’s important to keep two issues in mind.

Figure out your personal and financial goals for retirement.

Most households need about 80% of their pre-retirement budget to meet their in-retire needs.

For help building a budget suitable for your income and goals, talk to a financial advisor.

At a 4% withdrawal strategy, you target 4% safe growth and draw down 4% annually , this account might generate about $60,000 per year in inflation-adjusted income for 25 years .

Together with your Social Security , that will give you about $114,000 a year, or $ 9,500 per month.

These numbers can change depending on your investment strategy decisions.

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informal

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English

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