|
There are many exercises or worksheets you can use to help you figure out what
you will need. The calculators "crunch the numbers" you give them to determine
how much money you will need from various sources to get the income you will
want during your retirement years. Here is a retirement planner calculator that you can use.
Social Security will supply some of your retirement income.
To get the all the benefits you've earned, you will have to
wait to a certain age to retire. If you were born in 1960
or later, your full retirement age is 67. Learn more about
your Social Security benefits at http://www.ssa.gov.
Financial planners estimate that you'll need an average of 70-80 percent of your highest working income to live comfortably during retirement. If you were making $50,000, that would be $35,000 to $40,000 per year. This income estimate will be based upon your current situation.
| 
Play video