Discuss the below:
Create a 400 words (approximately 2 pages) using Microsoft Word.
Retirement and "The Number"
Let's first talk about your retirement. How much do you need to retire on to maintain a comfortable life-style? To live where you want to live, to have the means to visit your family and friends, to go on vacation, and to pursue your interests and avocations?
Specialists call this "The Number." Financial planner, Lee Eisenberg, wrote a book about retirement planning called "The Number," the size of the nest egg needed to support a desired retirement lifestyle. Is it $1 million, $2 million, what?
ING, the insurance company, will ask for your age, current income, your expected future income needed at retirement, and life expectancy; and instantly, it will provide you with a minimum net worth ("The Number") to retire on.
Decide what "The Number" is for you by going to:
Your Number
What is your "number" (see reading for techniques and tools)? What might cause your number to be higher? What average annual return do you need on your investments between now and retirement to reach your number? How might you achieve this rate of return?