An Easy Way to Find How Much You Will Spend in Retirement
How do you know when you can retire? The answer seems simple: When you have enough income coming from your investments and other sources to sustain your lifestyle.
The problem for many retirees and those who are starting to think about retirement is they don’t have a firm handle on how much money they spend each year. Not knowing that number or planning for it can be the difference between someone having a great retirement and someone running out of money.
Luckily, this is usually easy to figure out. Most people have one or two checking accounts from which all the bills are paid — credit cards, mortgage, cash withdrawals, etc.
