Are You Ready to Retire?
You could spend one-third of your life in retirement.To maintain your standard of living in retirement, you will likely need an annual income equal to about 80% of your final working income.
Invest as much, and as soon as possible, into your retirement plans. The average American does not seriously consider planning for retirement until their mid-thirties. If you are not a saver, you may be putting your financial future in jeopardy.A great strategy means having three types of income streams:
- Defined benefit plan - State pension
- Social Security benefits