At the start of every new year, you might think to yourself,
“Is this the year I’m going to retire?”
The New Year embodies fresh starts and new beginnings, and it’s no surprise that visions of retirement (not sugar-plums) dance in your head. But before you turn that dream into reality, be sure you can answer these six questions.
1. Are you confident in your retirement number?A top concern for retirees is having enough money to sustain their lifestyle throughout retirement. That “enough” number will shift for each couple depending on their unique needs.
Your housing, location, activities, health, debts, and general lifestyle requirements will all factor into your retirement number. A globetrotting couple might need more money per month for flights, insurance, food, and lodging, than someone who takes a more conservative financial approach.
How can you discover your number? Start by building a retirement budget. You’ll need to include items like housing, food, utilities, internet...