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You Can't Retire Until You Know THIS
Manage episode 419636829 series 3574017
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In this episode we review a simple retirement formula that you can use to find the minimum amount of portfolio assets you would require on the day you retire.
We call this formula the "Required Portfolio Income" formula.
Required Portfolio Income is a fancy way of putting a dollar number to your expected distribution rate.
Thinking only about distribution rates is very hard to relate to for most of us.
We think in terms of dollars and cents.
Therefore, translating that distribution rate into an actual dollar amount answers the question:
How much money will I need to take out of my portfolio each year in retirement in DOLLARS.
Getting familiar with this formula will help take your retirement planning efforts out of the theoretical and into the practical...
Listen to the episode to learn more.
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Eric Amzalag, CFP®, RICP®
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Want help with your Retirement Plan?
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Email me: Eric@thepeakfp.com
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