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.”
Tag: Saving
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.”
Take the Guesswork Out of Retirement Savings
Peng Chen Ph.D., CFA and Roger Ibbotson Ph.D. suggest some retirement savings guidelines based on net pre-retirement income. Read the full article here >>
Nine Lessons in Wealth-Building
Robert Brokamp notes: “Want to become a millionaire? Then perhaps you should start by studying the behaviors of people who have done it. But don’t worry – you don’t need to stop the next Mercedes you see and ask the driver intrusive questions, because two authors have done all the work for you. One of Read more about Nine Lessons in Wealth-Building[…]
The Old Normal is Scary Enough
Evan Simonoff reports “If the New Normal prevails—meaning a 4.5% real annualized rate of return on equities and a 1.5% real returns on bonds—then standard retirement rules like Bill Bengen’s 4.5% withdrawal rate for retirees and a 15% savings rate for workers won’t cut the mustard.” Read the full article >>
What If Financial Success Is About Saving More?
It’s a little scary that this article even had to be written, but Carl Richards re-affirms what “millionaire-next-door-types” have always known: Living frugally and investing your savings prudently is far more important to wealth-accumulation than trying to “beat the market”. The former has an almost 100% chance of success, while the latter an almost 0% Read more about What If Financial Success Is About Saving More?[…]