Retirement Planning

Retirement planning

Determining if you’re on track to retire can be more manageable if you break it into smaller steps. Those steps are

Retirement Goals #

1. When do you want to retire? At what age?
2. How much do you want to spend during retirement?

Current Situation #

1. What assets do you have that are allocated towards your retirement goal?
2. How are those assets taxed?

Retirement Model Assumptions #

1. How long do you estimate you will live?
2. What is the assumed inflation rate?
3. What is the long-term tax rate on investments and income?
4. What do you think will be the long-term rate of return of those retirement assets?

Output #

The output of this analysis should be able to answer the following questions:

1. What is the annual amount you need to save for retirement to meet your goals within a framework set by your expectations?
2. What is the the total amount of assets you will need at the start of your retirement?

Actions #

Compare the calculated savings requirement against your current savings capacity