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If you are asking what you should consider in regards to how much you should save for retirement income I suggest you contact a financial adviser. The answer will be based on your current income, and how you want to 'live' when you retire. As in, do you want to continue to go on vacations and dine out, or are you content staying home and occasionally going out.
What else can I help you with?
Do I have to pay taxes on my retirement?
Yes, you have to pay taxes on your retirement at a rate determined by your retirement income, which should be much lower than your working income. Yes, you have to pay taxes on your retirement at a rate determined by your retirement income, which should be much lower than your working income.
Who should consider purchasing an annuity?
Individuals who are looking for a guaranteed stream of income in retirement and are willing to trade a lump sum of money for regular payments over a period of time should consider purchasing an annuity.
Why should someone consider purchasing annuities?
Someone should consider purchasing annuities because they provide a guaranteed income stream for a specific period of time or for life, offering financial security and stability in retirement.
What are some of the key features to consider when evaluating a retirement income calculator?
A robust retirement income calculator should allow you to manipulate a lot of variables so that you can get the most accurate answer possible. In addition, the calculator should be easy to use, reliable, and not biased toward the financial products sold by any one company.
Where can I find more information about average retirement income?
Planning and research for retirement and average retirement income decisions can be a tough one but what you should realize is that a number of institutions will fight for you to chose them over others.
Should you tithe on your retirement income?
Tithing on retirement income is a personal decision that depends on individual beliefs and financial circumstances. Some people choose to tithe on their retirement income as a way to continue their practice of giving, while others may feel that they have already fulfilled their tithing obligations during their working years. Ultimately, it’s important to consider your financial situation, commitments, and personal convictions when deciding whether to tithe on retirement income. Consulting with a financial advisor or spiritual leader may also provide guidance.
How much should I save for retirement according to Dave Ramsey's recommendations?
Dave Ramsey recommends saving 15 of your income for retirement.
How much money should I have saved before considering retirement?
How much you should save for retirement depends on a lot of factors such as how much income do you want in retirement and will you have other sources of income in retirement such as pensions or part-time employment. Tax considerations and planned charitable giving should also be considerations. A number of finance websites offer retirement planning calculators. Yahoo offers this "How Much Will I Need To Save For Retirement?" calculator (can be found at http://finance.yahoo.com/calculator/retirement/ret02) which may be a good starting point.
What factors are used by the fidelity retirement calculator to guide your retirement plan?
You should see how much you need to save for retirement and also create a retirement income plan. After that you should talk to some people or even find you a representative to see if your plan is on track.
When is a good time to start planning for retirement income?
There is not a set age that is recommended for one to start planning for a retirement income. There are numerous factors that can affect the age when one starts such as annual income, medical expenses, among others. It is recommended to check with the AARP as they provide a lot of information about retirement. Typically, one should plan for retirement starting in their 30's.
What is the retirement money for computer engingeers?
Money received after retirement is completely dependent on the type of retirement plan the company that you retired from has. Also investments, such as IRAs, should be taken into account when calculating your monthly income after retirement.
How much should one have saved for their retirement pension?
There are varying opinions on how much one should save for their retirement pension. According to studies done by Aeon Hewitt, one should have at least 11 times their pay set aside by the time they retire.
