Find Out How Much Money You Need to Retire | S. 1 Ep. 13

Joe Anderson, CFP® and "Big Al" Clopine, CPA share strategies to help you find out how much money you will need to last through retirement, how much money needs to be saved and how much needs to be accumulated for your specific retirement plan. What's your magic number?

Click here for a Free Retirement Assessment:

So let's take a look at the first method of determining your "magic number"…

1. 8 Times Your Final Pay

Example: $100,000 Income Per Year
Magic Number: $100,000 * 8 = $800,000

Pro: This helps the person close to retirement find out how much they may need for retirement

Con: It does not factor fixed income sources (Social Security & pensions)

Con: It does not help a younger investor understand how much they need to save

2. Saving 15% of Net Salary

Example:
Annual Salary: $100K
Annual Take Home Pay: $70k
Annual Savings: $10,500 (15%)
Savings at 6% for 30 Years: $830,000

This method is good to help people start saving more money. Most Americans are not saving nearly this amount and this strategy does not help someone close to retirement see if they are on track or not.

3. 4% Distribution Rule
Example:
$100K Desired Retirement Income
$50K Fixed Income
$50K Income Shortfall
$50K Divided by 4% = $ 1,250,000

This method takes into account fixed income sources and is more scientific than other methods. The problems with the 4% rule are that it doesn't apply if you haven't saved, it is dependent on life expectancy, and depends heavily on growth rate.

FACTORS TO CONSIDER
– When Do I Want to Retire?
– How much do I spend now and how will that change in retirement?
– What variables could change everything? (Unexpected illness, the Premature death of a spouse, Divorce, Bear market, etc.)

If you would like to schedule a free assessment with one of our CFP® professionals, visit:

Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.”

Channels & show times: yourmoneyyourwealth.com

IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

Retire Southeast Asia Budget travel $25 A Day Retiring & Beautiful girl Retire Early

Travel lSoutheast Asia Retiring Budget travel NOW $25 A Day Retire Early
Southeast Asia Retire now on $25 a day. Yes it is possible today to retire as low as $25 a day and up.
I will show you you can get a hotel room for $10 a night, eat three meals a day for $10 a day and $5 a day for The-miscellaneous items you need such as transportation, entertainment, etc.

South east Asia is cheap. On $25 a day you are not going to live like a king or a queen. You will be able to live on this budget and be able to live in a foreign country Cambodia, Vietnam, Thailand are three south East Asian countries to retire.

Maybe you would like to have the time to write a travel blog, writer your famous novel: or have all the time for yourself to create an online business. Living in Southeast Asia and traveling in countrys where the overhead is very low it affords you the time to be creative.
—————————————————————————————-

Follow me on Facebook

Travel with me on YouTube ( ) Subscribe Now – It's FREE
————————————————————————————————————–
Check out this video on YouTube:
Killing fields The Children of Cambodia surviving on the streets.

Angkor Wat Temple & mausoleum 900 years old "wonder of the world"

SAVE $50. A Day Siem Reap Budget Travel $18 Rolex Watch

—————————————————————————————
Our personal story
My wife Lori and myself sold our home and our business in Hawaii and in 2006 we became the homeless millionaires. Our goal was to travel around the world and
"living the good life" are basic philosophy is
Fly First Class but PAY Coach Price "
.We have enjoy our world tour of 35 countries in the last 25 years. In 2012 we returned back to the big Island of Hawaii and bought a small cottage. For 2 Years we using Hawaii as our home-base.
We now have moved to Mexico and using Mexico is our home-base as we continue to travel around the world.
We have been asked by our friends to start this YouTube channel blog to share our experience and give some tips on budget travel.
See our YouTube channel
Keep doing what you do is appreciated by all.
—————————————————————————————————————–
Follow me on Facebook

Travel with me on YouTube ( ) Subscribe Now – It's FREE

How Much Money Do I Need For Retirement? – 4 Retirement Factors to Consider

If you’re considering retiring in the near future, you’ve probably heard or read that you need about 70% of your end salary to live comfortably in retirement. It may not be true for you. Consider the following 4 factors.

FACTOR #1

Your Health

Most of us will face a major health problem at some point in our lives. Think, for a moment, about the costs of prescription medicines, and recurring treatment for chronic ailments. These costs can really take a bite out of retirement income, even with a great health care plan.

FACTOR #2

Your Heredity

If you come from a family where people frequently live into their 80s and 90s, you may live as long or longer. Imagine retiring at 55 and living to 95 or 100. You would need 40-45 years of steady retirement income.

FACTOR #3

Your Portfolio

Many people retire with investment portfolios they haven’t reviewed in years, with asset allocations that may no longer be appropriate. New retirees sometimes carry too much risk in their portfolios, with the result being that the retirement income from their investments fluctuates wildly with the vagaries of the market. Other retirees are super-conservative investors: their portfolios are so risk-averse that they can’t earn enough to keep up with even moderate inflation, and over time, they find they have less and less purchasing power.

FACTOR #4

Your Spending Habits

Do you only spend 70% of your salary? Probably not. If you’re like many Americans, you probably spend 90% or 95% of it. Will your spending habits change drastically once you retire? Again, probably not.

Will You Have Enough?

When it comes to retirement income, a casual assumption may prove to be woefully inaccurate. However it doesn’t hurt to get a rough estimate. Using an online calculator link the one listed here can help you get started. You can use CNNMoney’s Will You Have Enough to Retire? calculator:

You won’t learn exactly how much retirement income you’ll need simply by watching this video and using the online calculator. But you will be on the right path. You may want to consider meeting with a fee-only, CERTIFIED FINANCIAL PLANNER™ who can help estimate your lifestyle needs and short-term and long-term expenses.

Sources:
—————
1. This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information should not be construed as investment, tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

Disclosure:
——————-
Weiss Financial Group is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein. Insurance products and services are offered through individually licensed and appointed agents in all applicable jurisdictions. The advisers at Weiss Financial Group are not attorneys of a law firm but can provide guidance to the client’s other professionals.

Leave me a comment to ask any question or contact me through my website if you’d like to see if I can help you.

https://www.youtube.com/watch?v=B4j9BGAuZPw