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The final rule for retirement savings is the 80% rule, or saving enough to replace 80% of your pre-retirement income. So if you currently earn $100,000 per year, this rule says you’ll need ...
To figure out if a client has enough money socked away for retirement, Stephanie McCullough, founder and chief executive of Berwyn, Pa.-based Sofia Financial, runs a computer program to calculate ...
Since the mid-1990s, inflation has stayed very close to the Federal Reserve's benchmark of 2% per year, often dipping much lower than that. The upshot has been a long run in which prices have ...
Inflation during an employee's retirement affects the purchasing power of the pension; the higher the inflation rate, the lower the purchasing power of a fixed annual pension. This effect can be mitigated by providing annual increases to the pension at the rate of inflation (usually capped, for instance at 5% in any given year).
Consumer prices rose 8.5% in July over the previous year, leaving many retirees and pre-retirees wondering how inflation impacts retirement savings. They have a right to worry. After all, living ...
Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence. The process of retirement planning aims to: [1] Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire