By most estimates, you'll need anywhere between 60% and 80% of your final working years' income to maintain your lifestyle after retiring. Social Security represents only approximately 39% of the retiree's income, according to the Social Security Administration which means that more of your retirement financial security rests on your shoulders. With the rising cost of living, you need to plan on an annual retirement income that could be substantially higher than what you spend now. Retirement income may come from pension benefits, Social Security benefits, personal savings, investments, or even income from part-time work.
Contact me today for you free consultation.