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| ammo |
 Posted: Fri Feb 25, 2005 9:15 am Post subject: Retirement |
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Investing Sr. Associate
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| Say im planning to retire at 60, i have a house in a nice area, How much money do you think i would need saved up? In general. |
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| trixiezzz |
| Posted: Mon Feb 28, 2005 4:22 am Post subject: |
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Investing Manager
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Well I think that all depends on you. Right now, you need to draw up a spending plan and see what it costs to run your life with today's costs. From that, you estimate what your expenses will be at retirement age.
Will you have your house paid off then? Plan on still owing on cars or credit cards? These decisions are yours to make and will greatly affect how much money you'll need ~ or if you'll even be able to retire when you want.
Next, start setting aside money to invest for the future. Once you know how much you need to plan for having, then you can begin to decide how you're going to accumulate that much. |
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