Just as every investor's tolerance for risk is different, the same
can be said of an individuals needs when it comes to retirement. There
are many factors needed to be considered when planning for retirement.
Such as:
- Mortgage payments
- Car payments
- Medical cost
- Utilities
- Insurances
- Dependents
- Travel, etc.
Before you can determine how much money you will need to accumulate, you
must first determine your desired lifestyle and annual costs associated
with that lifestyle. There is an old rule of thumb that says you will
need approximately 80% of your current income to maintain the same
lifestyle as when you were working. This may be true for most, but not
for the individuals who want to increase their spending in their
retirement years with a new home somewhere warm or for those who want to
travel extensively.
Once you have determined the amount of income you would expect to need in
your retirement years, a WWK representative can help you determine some
investment and savings goals.
 Retirement
Calculator
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