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3. Use an online retirement calculator. Now it’s time to zoom in a little. To get a clearer snapshot of your progress, use an online retirement calculator.
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 ...
For example, if Denise decides to retire at age 60, she’d have $1,225,721 in retirement savings (using the aforementioned calculator). This results in a retirement income of $123,815 a year or ...
Image source: Getty Images. 1. Calculate your retirement number. The best way to know exactly how much you should save is to calculate your retirement number.To do this, you'll first need to know ...
Microsoft Money is a discontinued personal finance management software program by Microsoft. It has capabilities for viewing bank account balances, creating budgets, and tracking expenses, among other features. [ 1 ]
Rule of 25: After accounting for her Social Security and other sources of retirement income, Katie plans to spend $40,000 a year in retirement. 40,000 x 25 = $1 million, so Katie would need $1 ...
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