10 commandments of retirement planning
It's never too soon to begin thinking about how you'll fund your life once you leave the workforce. These guidelines can help you get your finances ready.
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"A rule of thumb is to assume you'll need 80% of your current annual income in retirement."
In what world is this a good rule of thumb? This might be true from age 66 to 75, but after that, your spending will drop like a stone! I am well into my 60's and both of my parents are still alive, healthy, and living in their condo. They have a VERY comfortable pension that nets them over six figures per year. Their spending is less than $35,000 per year and going steadily DOWN. I understand that we need to save lots of money, but that 80% prediction is just flat-out unrealistic, and wrong. Stop trying to scare us!
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