Don’t Panic, A New Legacy Income Planning Tool Helps You Manage Your Retirement
Advisor Perspectives magazine reported last month that you will need much more in retirement savings today to produce the same amount of retirement income. Three times more!
Current low interest and dividend rates simply make it impossible, the article said, to replicate the income of just a few years ago. For instance, historically it has cost $26,267 in savings to produce $1,000 of annual income with a 50/50 portfolio.
Today you need about $79,118 to reap that $1,000.
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