Your Team at Baron Silver Stevens Financial Advisors · Baron, Silver, Stevens Financial Advisors, LLC

The Retirement Income Decoder: Simplifying the Numbers

How much do you need to save to retire comfortably?

What would you need to put away today to retire on $100K a year without touching your principal?

Those are heavy questions that can overwhelm any of us, especially if we don’t know how the big numbers really break down.1

And if you’re like most folks, navigating the maze of retirement planning can feel daunting.

Here’s the good news. You’re not alone.1

It’s not too late to get your retirement goals on (or back on) track, and you don’t need a complicated plan to do it.

The key isn't necessarily a complex strategy; it's about having a clear understanding of the numbers and what they mean.

With the right knowledge and planning, you can build a retirement fund that will allow you to live comfortably—without potentially depleting your nest egg.

In this Visual Insights Newsletter, we'll break down an example of how much one would need to save to generate $80K, $90K, or $100K in annual income after they stop working.

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Retire on $100K a Year
Without Touching Your Nest Egg?

ASSUMPTIONS

To run the numbers, here are the assumptions:2

  • You start with $0 in retirement savings.
  • You start saving at age 25, and you retire at 65, saving for ~40 years.
  • Your retirement investment will earn ~6% a year while you work and ~3% a year when you retire.
  • Your nest egg will include some combination of stocks, bonds, and cash, getting more conservative the closer you get to retirement.

We’ll show a few different scenarios for 80, 90, and 100K in retirement income. These are conservative estimates, and they don’t factor in inflation, taxes, and other income you may earn in retirement.2

SCENARIO #1

$80K Annual Income in Retirement

If you want to retire on $80,000 a year without drawing down on the principal, you need to:

  • Save at least $1,340 a month every year until you retire
  • Have at least $2.6 million total in your nest egg by the time you’re ready to retire2

SCENARIO #2

$90K Annual Income in Retirement

If you want to clear $90,000 a year as a retiree without touching your nest egg, you need to:

  • Save at least $1,506 a month every year until retirement
  • Have at least $3 million total in your nest egg by the time you retire2

SCENARIO #3

$100K Annual Income in Retirement

If you want to draw $100,000 a year without touching your original savings as a retiree, you need to:

  • Save at least $1,674 a month every year until retirement
  • Have at least $3.3 million total in your nest egg by the time you’re ready to retire2

It pays to be early and flexible when it comes to something as important as your retirement.

FINANCIAL LESSON:

How to Retire the Way You Want With Less Fear & Stress

Surprised by the numbers you've seen today?

Rethinking your retirement game plan—or wishing you had one to begin with?

Remember, the figures and steps outlined are just a guide, not one-size-fits-all answers.

Your journey might look different. Maybe you started saving earlier or later, or perhaps your nest egg is growing at a different pace.

If you're already a client, we've tailored a plan just for you. But plans and goals change, so it might be time to revisit and tweak if needed.

The golden rule? The sooner you start planning, the better. Not only do you unlock the magic of compound interest but you also gain more room to pivot and adapt.

It pays to be early and flexible when it comes to something as important as your retirement.

Life's curveballs can knock us off track—that's a given. Yet, falling off doesn't mean staying down.

We can always recalibrate and aim again, especially with expert advice on our side. So, let's crunch those numbers, set or reset our course, and turn those retirement dreams into real plans.

 

    Your Team at Baron Silver Stevens Financial Advisors

    Baron, Silver, Stevens Financial Advisors, LLC

    https://bssfa.com/

    561-447-1997

 

P.S. Sign up for my emails. My subscribers get my best insights!

Your Team at Baron Silver Stevens Financial Advisors

Baron, Silver, Stevens Financial Advisors, LLC

Not receiving our newsletter?

Get insightful info on finances and more in your inbox every month with the

VISUAL INSIGHTS NEWSLETTER

Your Team at Baron Silver Stevens Financial Advisors

Baron, Silver, Stevens Financial Advisors, LLC

https://bssfa.com/

info@bssfa.com

561-447-1997

Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.

This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.

Securities offered through Royal Alliance Associates, Inc., member FINRA/SIPC. Advisory services offered through Baron Silver Stevens Financial Advisors, LLC a registered investment advisor not affiliated with Royal Alliance Associates Inc.

Fixed and/or Traditional Insurance Services offered through Baron Silver Stevens Financial Advisors, LLC. Baron Silver Stevens Financial Advisors, LLC is not affiliated with Royal Alliance Associates, Inc., or registered as a broker-dealer or investment advisor

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Baron, Silver, Stevens Financial Advisors, LLC

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