Two Key Questions About Retirement

When developing your plan, you need to ask yourself two simple questions…

What do I NEED my retirement income to do?

What do I WANT my retirement income to do?

The answer to the first question should be the same for everyone – your retirement income must cover your basic living expenses.  Looking at your current expenses, determine how much income you will need to address these expenses in retirement.  Pay special attention to those expenses which may be reduced or eliminated all together, such as clothing, commuting and professional fees.

The second question may be a little more difficult to find out…