Are You (really) Ready to retire?

Are You (really) Ready to retire? -The Wall Street Journal recently published article, ÄúSo You Think You Aore Ready for Retirement., He was actually at a 20 quiz questions to help you determine if you are ready to retire. Some of the questions were very thought cause Allow me to share five :.

1. What multiple of your annual salary ending at the age of 67 should aim to save to meet basic income needs in retirement? The answer is eight times earnings, which is a conservative estimate, which assumes life expectancy at age 92 If you earn $ 100,000, you will need to accumulate at least $ 800,000.
2. What is the average age at which current retirees actually say retired, Äîand what is expected age of retirement for current workers? Responses are 61 years for retirees and 66 years for those who still work in progress.
3. What percentage of workers plan to continue working later life, what percentage Äîand worked after retirement? 69% say they plan to work while 25% actually worked after retirement.
4. What percentage of American households are at risk of not having enough savings to maintain their retirement standard of living? 53%
5. 94% of respondents said they think it, AOS important to talk about their end of life care, but only 30% actually did. Who will make those decisions when they are no longer able to do so?

The point of all this is that it, AOS important to plan now while you still have time and your health to make these important decisions. Reach out to your agent or financial advisor to guide you through these important decisions.