Retirement Planning Guidelines

Retirement Planning Guidelines

Although it is an American article with references to the social security system, some of the suggestions in this retirement planning article seem sensible and it includes some helpful guidelines to avoid running out of money before you run out of breath.

These include needing 80% of your income when you retire and the 4% rule which is a very rough guide to how much money you can withdraw from your nest egg in retirement in order to make it last. One way to help you figure out how much you need to save is to invert the 4% rule and multiply your desired annual income from your nest egg by 25 e.g. £20k per year would give you £500k.  Read all here. 

Each set of circumstances is different which is why we start the process at Beaufort Wealth Management with a fact find, so we can tailor a plan for you.

 

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