Summerlin Benefits Consulting Q&AAnswer
Oct 18, 2024 - 08:45 AM
To determine if you’ve saved enough to retire this year, start by assessing your current and future expenses, including lifestyle costs like travel, home or car maintenance, and potential healthcare needs. Compare these to your guaranteed income sources, such as Social Security and pensions. Use the 5% rule as a guide—spend no more than 5% of your savings annually to ensure your nest egg lasts. For instance, if you need to withdraw $20,000 a year, you should have at least $400,000 saved. Consulting a financial professional can also help tailor a plan to your specific needs.
At Summerlin Benefits Consulting, we help our clients navigate retirement planning in a simple, easy to understand manner, so that they can realize their individual, unique retirement goals and work towards those goals. Give us a call today for a no-obligation meeting to review your financial plan so that we can help get you on the road to retirement.
At Summerlin Benefits Consulting, we help our clients navigate retirement planning in a simple, easy to understand manner, so that they can realize their individual, unique retirement goals and work towards those goals. Give us a call today for a no-obligation meeting to review your financial plan so that we can help get you on the road to retirement.
