How to Project Retirement Income Needs With Inflation
How to Project Retirement Income Needs With Inflation
Determine your monthly income needs at the beginning of retirement by estimating your recurring expenditures and planned purchases.
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Choose an economic inflation rate with which you are comfortable that you'll use to calculate your retirement expenses.
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Estimate the impact of the expenses which are likely to increase faster than economic inflation.
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Use planning software or spreadsheet program to complete projections.
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Consult a qualified professional to help with your retirement planning.
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