Do you love traveling? Enjoy the occasional nice meal out with your family and friends? So do we. But if you’re like a lot of Americans, you may not know exactly what it will cost to support these same freedoms after you retire.
In just 3½ minutes, Dimensional Fund Advisors’ Vice President, Dr. Marlena Lee, addresses this important question. She’ll show you a quick way to estimate the amount of income you’ll need in retirement to sustain your current lifestyle. And while there’s not a one-size-fits all approach to answering this question, the data give us some pretty good ideas about where to start.
Marlena’s video is the first in Dimensional’s new “Research in Focus” series, which features straightforward conversations with the firm’s researchers on a variety of topics. Be on the lookout for more in the coming months.
Have your own ideas, experiences, or questions about how much retirement income you’ll need? We welcome you to share in the comments below.
Douglas Finley, MS, CFP, AEP, CDFA founded Finley Wealth Advisors in February of 2006, as a Fiduciary Fee-Only Registered Investment Advisor, with the goal of creating a firm that eliminated the conflicts of interest inherent in the financial planner – advisor/client relationship. The firm specializes in wealth management for the middle-class millionaire.
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