Your retirement number is the sum of liquid assets needed to produce a targeted cash flow stream in retirement. To find your number, simply divide your shortfall by 4% (in this case, $118, 000 divided by 0.04), which gives us roughly a $2.9 million target for accumulated assets by retirement.
Read more here: Compound Interest And The Road To Retirement: How To Fund Your Future – Forbes
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Information on this site does not constitute legal, medical or technical advice and is not intended to substitute for professional advice. Please consult an appropriate qualified professional about the applicability of any opinions or recommendations with respect to individual concerns.; please read more here.Open article in new window