Start early to attain your goal. Starting at age 20: Assuming a 6% return, compounded monthly, you should aim to invest $364 a month toward retirement to reach $1 million in savings by age 65. Starting at age 30: Assuming a 6% return, compounded monthly, you should aim to invest $704 a month toward retirement…
Category: pre-retirement; retirement
Are you really ready to retire? Mapping Out a Fulfilling Retirement
Thanks Kim Blanton, author of The Squared Away Blog for these posts. Check out https://squaredawayblog.bc.edu “A big part of retiring is letting go of what can be a strong identification with work, and people are reluctant to give that up.” Here is some help… Boomers typically must go through four tasks as they transition to…
How to spend just the right amount in retirement
“Retirees tend to gravitate to opposing poles in how they spend their nest eggs, with some too parsimonious and others too carefree. The best course lies somewhere in between, as Steve Vernon explains” in Forbes.The Spend Safely in Retirement Strategy is simple enough that you can implement it on your own.1. optimize your social Security benefits.2.…