Enough money for retirement?
I plan to retire in the next 3-4 years and do not have as much in my 401K plan as I liked. I would like to have an annual income of about 75-80K per year. I plan to draw about 5500/month from my pension before taxes, Any advice ?
Terry Says
Go to http://choosetosave.org/ballpark/index.cfm?fa=interactive and use their "ballpark estimator tool" to get a realistic picture of what amount you need to invest to generate that kind of income for your likely lifetime. In fact, first go to www.livingto100.com to figure out how long that lifetime might be!
