According to the Social Security Administration, “Retirees will need 70 percent or more of pre-retirement earnings to live comfortably.”1 Now, regardless of whether or not you consider yourself to be “average,” the reality is that on the day your employer’s paycheck stops, you will need to have some sort of plan in place for replacing your income so that you can continue to pay your living expenses – and hopefully more than that, such as fun, travel, and doing the things that you’ve always wanted to do. [Read more…]
Archives for May 2016
Hey there boomers: join the crowd.
Which “crowd” is that? It’s the one that at some point in time everyone has to face: the retirement crowd.
Indeed, some 10,000 of us are retiring every day according to Rodney Brooks at the Washington Post. Meanwhile, over at the Huffington Post, Jack Guttentag tells us that the 65-and-older population will number 73 million by 2030.
Of course one of the biggest questions we have to ask ourselves (like every day it seems) is “are we ready to live on a fixed income for the long term?” Hopefully the answer incorporates what we’ve done over our working lifetimes to prepare for that day, whenever it comes. [Read more…]