Posted by ET,
under ET, Financial goals, Retirement, Savings |
08/9/2010
CNN has a great article this week that discusses how much money Americans need to feel rich. http://money.cnn.com/2010/08/09/news/economy/wealth/index.htm
Factors such as location (NYC vs Boise ID for example), and spending habits play a role in determining this figure. It is estimated that the average American needs $300,000 per year to be considered rich. This allows for a $4,000 monthly mortgage payment and $12,000 in monthly expenses.
I agree, this seems like a lot of money. In fact, I think $6,000 in monthly expenses sounds like a lot of money. All this, and not working, makes for quite a life style. You can begin living the rich lifestyle at age 35 if you have $12 million in the bank. This is not realistic for 99.99% of us, but for those that it is, congratulations. As for me, just being able to retire a few years early with enough money to live a simple lifestyle would be amazing.
What do you consider to be “rich”?
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No Comments | Tags: Retirement, Rich, Wealth
Posted by KEJONES,
under Financial goals, General, In The Media, Retirement |
06/24/2010
And a couple quotes that I like:
“The trouble with the future is that it usually arrives before we’re ready for it.” -Arnold Glasgow
“If you do not think about your future, you cannot have one.”
-John Galsworthy
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No Comments | Tags: financial planning, funny
Posted by ET,
under ET, Financial goals, In The Media, Retirement |
06/18/2010
In the USA, the average age of retirement is now almost 66 years. The US has one of the oldest retirement averages. Some other major Countries that are lower include ; UK 65, Canada 65, Mexico 65, Japan 63, France 62. One year might not look like much on paper, but tell that to the 65 year old that just spent the first healthy year of retirement golfing, playing shuffleboard, walking the beach and playing with their grandchildren. The scary news for many of us is that the average age of retirement is rising, not dropping. This article has some good information on why retirement ages are rising across the world. http://www.npr.org/templates/story/story.php?storyId=127907362
Those of us with a financial plan are 250% more likely to hit our retirement goals than those that do not have a plan. This fact is scary to those that don’t have a plan, but great news for those that do. By taking the time to create a financial plan with an advisor or on a website like ours, you can take the bull by the horns and help determine the age that you will retire. In a few simple steps, you will know how much money you will need at the age you want to retire (60?, 62?, 64?), along with a road map to get you there. All of us want to retire while we are young enough to enjoy the perks, so create a plan and make it happen.
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1 Comment | Tags: Average US Retirement Age is 66, Retirement, When do you want to retire
Luckily, My husband and I are retired. Strange, I speak to people who feel they are retired just because they no longer work – I think that’s called “being out of work”. Retirement should mean: no mortgage – no vehicle payments – credit cards paid in full monthly – then, you can truly “retire”. Best to you all. Barbie