Retirement planning is a complex process that requires careful consideration of many factors. Everyone wants a different retirement lifestyle at different retirement ages, and the amount of money needed to achieve this lifestyle can vary greatly. Generally, experts agree that you'll need between 70 and 80% of your pre-retirement income to maintain your standard of living in retirement. This is known as the “80%” rule.
To get an accurate estimate of your retirement income needs, you should consider your age, health, lifestyle, and expenses. You should also use a retirement calculator to estimate the amount of monthly income you could receive from your retirement portfolio for the rest of your life. An annuity is an important retirement planning tool that can provide you with a guaranteed fixed lifetime income. It can also help protect against inflation and market volatility.
Use our retirement calculator to determine how much income your savings can generate now or in the future, and then request a free quote. Saving for retirement may seem like a daunting task, but it's possible to achieve a comfortable retirement income. Plan ahead and take advantage of employer-sponsored retirement plans. The Annuity Expert is an online insurance agency that serves consumers across the United States and can help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you.
It's important to remember that Social Security benefits may not be enough to cover all your expenses, so you should also consider other sources of income such as investments or different retirement accounts. Get monthly retirement guidance, financial planning tips and market updates straight to your inbox to stay informed about the latest developments in the world of retirement planning. People with higher incomes are more likely to have retirement savings, and their average retirement savings are also higher. However, don't count on working longer as a substitute for retirement planning. An annuity is the only retirement plan that can provide you with a guaranteed fixed lifetime income, so don't wait any longer.
We'll consider your current salary, age, and desired retirement age to give you an accurate estimate of your potential annual salary during retirement.
