Accessible Finance Episode 35: What should you know about retirement?

This week we provide some retirement metrics in the US and clarify common assumptions around retirement. If you would like us to discuss your specific scenario without providing financial advice, feel free to write to us at [email protected].  We will anonymize your personal information.  Thanks! What number do I need for retirement?  I have heard 1 million is sufficient.  Is it?  How should I think about it? Everyone’s favorite “it depends” applies here, but a simple equation to get you in the ballpark, assuming you intend to retire around age 65 is to take your annual spending after SS and divide it by .04.  For example, if I need to fund $60k of spending, I need a lump sum of $1,500,000 (60,000/.04) in after tax dollars in retirement. If you have questions, topics, or a scenario of your own that you'd like us to incorporate into our podcast, please direct them to [email protected] or visit us on our website at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠equilibriumfp.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. If you are interested in a free, personalized assessment of your financial situation, please head here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://equilibriumfp.com/free-assessment⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ If you would like to reach out via phone for a complimentary 15-minute discussion, please call 504-229-2494.