- Personal Finance
How much money do you need to retire?
Only you know how much money you need to retire
Here's what I know, after 35 years of management and investment adviser service, you will need more and more income every year. Believe it. You have to employ the investments you can control to create income.
Ordinary investors tend to know that their investments need to create income. Either your investments create income or you work to create income. Got it?
As you prepare for retirement, one of your first steps is to determine how much money you need to support your lifestyle.
If your retirement trusts, like social security or your teachers pension or Uncle Henry's trust, do not provide enough income to fund your lifestyle, then you need to create income from your savings.
I believe if you use a simple strategy based on stocks and bonds, you can manage the portion of your savings dedicated to create income.
Find out how much income you need to live on today then add about three percent per year of additional income. Stocks and bonds can deliver that increasing income every year. It works; I live on this income and so can you.