Accordion Example
FAQ +
Retirement Withdrawal Percentage +

What It Means: The annual percentage of your retirement savings you plan to withdraw during retirement.

How to Answer:

  • Commonly, people use 4% as a guideline for sustainable withdrawals.
  • Consider your estimated expenses and how much you need to cover them.
  • If you expect higher expenses or want a more conservative estimate, consider a lower percentage.
  • For a more aggressive plan, a higher percentage can be used, but it increases the risk of depleting your funds.
Annual Inflation Rate +

What It Means: The rate at which you expect the cost of living to increase annually.

How to Answer:

  • The average historical inflation rate is around 2-3%.
  • Consider current economic trends and consult recent inflation data.
  • Use a conservative estimate if you want to be cautious about future cost increases.
  • If you expect high inflation, use a higher percentage to reflect that in your calculations.
Annual Discretionary/Charity Costs +

What It Means: Annual expenses for non-essential spending and charitable donations.

How to Answer:

  • Include all planned spending on hobbies, travel, entertainment, and any other non-essential activities.
  • Estimate your yearly charitable donations based on past giving habits or future plans.
  • Be honest about your lifestyle and what discretionary expenses you consider important for your retirement years.
  • Overestimate slightly to ensure you have a buffer for unexpected non-essential expenses.

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Calculate Your Retirement and Keep Learning!

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Fidelity Says Save This Much

Are you on track with your savings? Learn the recommended savings targets from Fidelity to ensure you're building a secure future. This video breaks down how much you should be saving at every stage of your career.

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How Much Do You Need to Retire?

Do you know your magic retirement number? Discover how to calculate the amount you'll need to enjoy a comfortable retirement. This video walks you through the essential factors and formulas to determine your target retirement savings.

Retirement Alternatives

What if traditional retirement isn't for you? Look into various alternatives to the conventional retirement approach. Explore exciting options like semi-retirement, encore careers, and geographic arbitrage to find what might fit your vision of the future.

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