Age Calculator For Retirement

Retirement Age Calculator

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At 20S – you say “two soon!” At age 30S – you say “What do I want?” At 40S – you’re like “I want to!” And at age 50S – you’re saying “it’s too late!” That’s the journey an average man goes through while thinking about investing for retirement.

Are you behind saving for retirement? If you have no idea what is considered a “back”, then you need to increase your effort to make the nest egg. A June 27 Government Accountability Office analysis found that the average American retirement savings for 3- to 7-year-olds is $ 104,000. Feeling too loud? No, when you find out that if you buy lifetime annuities with this amount, this amount will only change to a monthly payment of 10 310.

Whatever age group you are in, serve it as a wake-up call to take your first step toward investing in retirement. You don’t want to work until the last day of your life and you don’t want to stop working enough to retire. The purpose of the catalyst is to help you decide where you need to be at different stages of your life and how to get there.

Let’s take a look. If you’re in your 20s

30s 40s or 50s – What is the game plan?

Here this is really cool. I think this

helps people and also maybe might

motivate you to take action a little bit

more. Let’s say you’re 30 years old,

you want to have at least one times

your salary saved. So if you’re making

$50,000 a year ,you want to make sure

that you have 50 gramme in the bank.

Let’s jump up to 45. You want to have 4

times your annual income saved. Once you

get into your 60s, right, that’s 8 times. That’s a huge number! And you know,

procrastination is probably one of the

key components of why people are not

necessarily successful, but at least this

put you in the… I mean one of the

biggest questions Al and I I get is, “Am I on track? How do I compare to other people that you see?”

Well this is a good idea to take a look

at how much money are you

making, multiplied by those factors, and

then that’s going to get you in the

ballpark. Right? Because I think a lot of

times it’s just simple arithmetic. How

much money do I need to maintain the

lifestyle that I want long-term? Most of

you don’t have enough. We’re not here to

put fear in you. We want to make sure

that you’re responsible to look at, “Hey,

how much do I need?” To give you the

confidence to do all the things that you

want to do in retirement.

Hey, Joe, why don’t we do kind of a simple

example of let’s say some different ages.

Perhaps your age 40 or 50 or 60.

Let’s say you have $50,000

saved. Let’s say you want to reach that

$500,000 savings

goal. Well, how much do you need to save

per month to be able to do that? In this

slide it’s showing you $179 per month

if you’re 40. Look what happens if

you’re in your 50s. $862 dollars per month

and if you’re 60 you got to fast track this.

That’s $3,875 per month.

That’s of course at a 7% rate of return and

assuming that you retired age 67. Just

four grand a month. Oh yeah, no problem.

That does show why you want to start as early as possible when you’re saving.