Given the fiscal state of the Social Security system, the author of today’s article advises that, when it comes to financing your retirement, “You have to assume you’re not going to get much help from our government, you’re not going to get much help from your employer, and your financial future is all up to you. And that means you need to save more and save a lot.” So what are some strategies that will allow you to retire rich – or at least retire comfortably – without relying on Social Security? CLICK HERE.
When it comes to calculating your “magic number” for retirement (how much you need to save in order to retire comfortably), various formulas have been suggested (Fidelity, for example, recommends that you save the equivalent of 10 times your final salary). The author of today’s article, however, sees this approach as “fatally flawed” and recommends using a “magic dividend number” for retirement instead. What are the flaws the author sees with the traditional magic number approach? What is the “magic dividend number” – and where can retirees find the yields necessary to achieve it? CLICK HERE.
The oft-cited figure for how much you need to build up in your nest egg in order to retire comfortably is $1 million – with some experts advocating a $2 million target! However, the author of today’s article believes that, “while that theory might seem reasonable on paper, in practice, it leaves a lot to be desired” – and he argues that a nest egg half that size – $500,000 – is a more appropriate target. What’s his rationale – and is a comfortable retirement possible on even less than that amount? CLICK HERE to read more.