What is a Good Monthly Retirement Income?
Episode description
According to the @Bureau of Labor Statistics, the average annual expenses for people 65 plus in 2021 was about $52,141.00, which works out to about $4,345 a month.
But as Peter with Richon Planning explains to Erin Kennedy, no two people are alike, so figuring out how much money YOU will need depends on your lifestyle and your unique retirement goals. To determine what you'll need for a comfortable, monthly retirement income, first walk through these prompts:
1. Picture your ideal retirement
2. Create a spending plan
3. Consider common risk factors
4. Build a robust nest egg
5. Create a legacy plan
nb If you'd like to speak with Peter to build a personalized retirement plan that addresses your unique goals, please give him a call at (919) 300 - 5886 or visit www.RichonPlanning.com