Reality check: What the average retiree spends per month
“Households run by someone 65 and older spend an average of $45,756 a year, or roughly $3,800 a month.”
Category: Planning and Retirement
Retirement Strategies in Pictures
“This example will be based on a 65-year-old retired couple. They have accumulated $1.7 million of retirement savings allocated 50/50 stock/bond, and they also own an un-mortgaged house worth $500,000. They will receive a combined $42,500 in Social Security if they both claim at 65, and their essential expenses are $85,000 increasing with inflation each Read more about Retirement Strategies in Pictures[…]
7 Risks of Retirement Income Planning
“One matter has become even clearer than before: The financial circumstances facing retirees differ dramatically from pre-retirees. For this reason, traditional wealth management approaches do not sufficiently address a retiree’s needs.”
Unraveling Retirement Strategies
“Rational strategies to spend from a volatile portfolio suggest that we spend more when our portfolio grows in proportion to our spending and life expectancy and demand that we spend less when it shrinks.”
Angst in America
This is a rather sobering view of the state of America’s “Retirement Readiness” by John Mauldin of Mauldin Economics. One-in-three Americans have absolutely $0 in retirement savings, and 87% of us have less than $300,000.
Retirement Plans for the Self-Employed
Sean Williams of The Motley Fool provides a good overview of retirement plan options for folks who run a small business. Read the full article here >>