Essay about Estimating Your Retirement Income Needs
By Yulian Isakov | Submitted On February 18, 2011
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Retirement planning is really a combination of an art and science. You can plan for an annual retirement income that you would like to see in your retirement years - perhaps something that is at least the income that you earn now or a percentage of your current income. You 'll also want to estimate your expected retirement expenses and make sure you protect your retirement savings against inflation. You 'll want to plan for a longer life to avoid running out of income during your retirement years especially if longevity runs in your family. Ask yourself, do you wish to retire and live off only your retirement savings or do you plan to work in retirement to supplement your retirement savings? If you are not yet retired, do you need to continue saving in order to better meet your retirement goals? All of these estimates and considerations are important to factor into your retirement plan and your Financial Advisor can help you make sure that you 're well positioned to retire the way you want.
You have been told how important retirement planning is in order to…