How much do I need to retire?Top financial advisors participate

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There are some simple rules: Save 10 times your income Experts recommend using a retirement calculator to get a more accurate image of your retirement number, but depending on your retirement age.

Still, the old rules may no longer apply.

Christopher Schleiner, Reston, Virginia-based Certified Financial Planner and Chief Operating Officer, said: Mason Investment Adviser Services, 13th place CNBC 2021 FA100 List..

“Spending will always be the most important variable,” he said for retirees. “The perfect investment solution can’t overcome spending beyond your own means.”

In addition, your medical costs are likely to be higher than expected now.Especially if you retire before you qualify 65 year old Medicare..

For years, financial advisors have been so-called 4% rule For post-retirement income: Retirees can withdraw 4% of their entire portfolio each year while maintaining an account balance large enough to last for 30 years.

But longer retirement in a great deal of financial uncertainty also tests that criterion.

Matthew Young, Florida-based President and Chief Executive Officer of Naples, said: Richard C. Young and Company, Ranked 5th on CNBC’s FA100 list. “Tell the client to consider 3% just in case.

“I don’t know what the environment will look like in terms of revenue over the next 15 years,” Young said.

Even a typical view of Asset allocation It has changed.

Stephen Check, President Check capital management In Costa Mesa, California, ranked 4th on the CNBC FA 100 list, 80% allocation to stocks — S & P500 Index Fund — For those who retire at the age of 65. S & P500 Stock Index It has increased by 16% in the last 12 months and has increased by about 30%.

“This is higher than usually recommended, but it would have worked well historically. I think it’s even more necessary if interest rates are very low,” Check said with a focus on equities and equity funds. A more traditional retirement portfolio heavily weighted with fixed income and cash..

“Due to stock valuations and bond yields, expected returns will not be as good as they used to be,” he added. “Models based on historical revenues cannot be predicted positively.”

Check also recommends a “two-bucket” approach, spending money on stable liquid assets such as money market funds and money market bonds for about five years, with the rest investing in equities for long-term growth.

He said your money would last 35 years, even if you spend 4% of your wealth in the first year (and increase this by 3% each year for inflation).

How much do I need to retire?Top financial advisors participate

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