CHAPTER 5Retirement Planning: Living Your Dream
How Much Is Enough?
As you're developing your estate plan, it is vital that you determine how large an estate is necessary to continue to fund your lifestyle after you retire. Once you have that answer, you'll need to determine if you are on schedule to achieve that goal based on your current trajectory for wealth accumulation. When the answer to that question indicates a shortfall, you will need to develop a plan for the best way to accomplish this objective. It may involve setting up a retirement plan or other investment program. Some people will find that they have accumulated significantly more assets than they will need to meet all of their financial objectives and retirement income needs. These individuals can begin focusing on wealth transfer strategies during their lifetime instead of waiting until their death. You should assume that until you know whether you have enough assets, you won't be able to implement a truly effective estate plan. In this chapter, we will help you determine the size of the investment estate that you will need to accumulate in order to provide for your retirement income needs.
Your Retirement Requirements
Determining how much capital you will need at retirement is vital to your estate plan. It is an intricate process involving many complex calculations ...
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