Assets, a financial firm specializing in retirement strategy advice, has released a guide for couples, with tips for how to calculate monthly income needs during the post-work years.
The recently announced guide covers key benchmarks for retirement savings, factors to take into account when calculating monthly needs, and recommended annual withdrawals.
More information can be found at https://assets.net/what-is-a-good-monthly-retirement-income-for-a-couple
As the average life expectancy for Americans continues to increase, the new guide from Assets is constructed with retirees - or those nearing retirement - in mind, as the company offers practical tips for couples to accurately calculate monthly income needs as they plan for a comfortable financial future.
Recent data from Yahoo! Finance shows that many married couples fail to make adequate provisions for retirement or to maximize their retirement savings and workplace benefits, meaning that a substantial percentage of the population is at serious financial risk when the golden years arrive. The Assets guide is specifically designed for couples and examines some of the factors that can influence monthly income needs for life partners, such as life goals, lifestyle choices, and investment vehicles. “It can be challenging to determine how much income will be enough for couples after they retire,” says a spokesperson. “Mapping out a strategy and figuring out how much money is necessary for a comfortable retirement is crucial for establishing security and a solid foundation.”
The guide offers advice regarding how to use a retirement planning calculator to gain a thorough understanding of a couple's current financial situation. The Assets team also explains the potential earnings available to couples through a portfolio of retirement savings tools.
Several important numerical benchmarks are also listed in the guide, such as the notion that a couple heading into their early 60s should have a retirement fund that is the equivalent to seven times their collective household income in the pre-retirement stage of life.
Readers will also be alerted to some common factors that can affect retirement planning and monthly income calculations. This includes dependents, projected longevity, health conditions, and financial goals - such as increasing an emergency savings account or investing in secondary properties.
Finally, the guide explains how other assets - such as rental properties - and reliable revenue streams from pensions, employer-matched 401(k) plans, IRAs, or Social Security benefits, should be taken into account when calculating monthly income requirements.
Interested parties can find more details at https://assets.net
Release ID: 89115440
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