Retirement Advisor: A Quick And Dirty Calculation Of Your 'Number'
Retirement savers generally want to know what large “number” they need to fund their retirement. But people live their whole lives based on a monthly income, and it is on the basis of that small number that we can try to arrive at the bigger one. We present an oversimplified method of generating a portfolio goal from one’s income needs. This podcast (5:09) suggests that this back-of-the-envelope calculation is really just a starting place for a much more sophisticated discussion to which financial advisors can add tremendous value. Learn more about your ad choices. Visit megaphone.fm/adchoices