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August 5, 2014 - Blog

Key to a Successful Retirement

More than Money with Gene Dickison Answers:

“I want to retire, but I’m not sure I’m in a sound enough position to pull it off.  If there an easy way to know if I can retire and not run out of money?”

It depends . . .

. . . on your answers to a couple simple questions: 

The most important question you must answer – and the one the will drive all other retirement answers – is, “What do I spend each month to maintain a happy, safe, and secure life?”

If you know what you’ll need in retirement, the next simple question is, “What income can I count on?”  You might include social security payments, pensions, annuity benefits, rentals, and other dependable sources of income.

If you discover your income is higher than your expenses – congratulations, you’re retired.  If not we have another question for you, “Do I have enough saved to generate the income I need to cover the gap?”  You might need a little professional assistance to determine what income you could/should expect from your savings.

With a little homework and answers to these simple questions you should be able to make a very confident retirement decision.

What are your answers to these retirement questions? 

Email Gene@AskMtM.com

 

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