How Much Income Do I Really Need in Retirement?
By Dale Maley
()
About this ebook
Financial planners use a rule of thumb that says you will need 70% to 80% of your pre-retirement income. This short story examines this rule of thumb and apply it to four fictitious families. Hopefully the results of this analysis will help people better understand the pros and cons of using the 80% rule of thumb. This story should also help people better estimate their retirement income needs
Dale Maley
Dale C. Maley is the author of the 19999 book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros.He is also a contributing author to Chapter 18 Seeking Help from Professionals in the 2009 book The Bogleheads Guide to Retirement Planning.He is a very successful private investor who has been a student of Financial Planning and Investing for over 30 years. He was trained as an engineer at the University of Illinois and has been a practicing engineer for 32 years. His accomplishments as an engineer include the granting of 16 U.S. Patents and authorship of over 500 professional technical papers. He is also a member of the International Society of Automotive Engineers and the Society of Manufacturing Engineers.He also has earned an MBA (Masters Degree in Business Administration) degree from Illinois State University. His background in mathematics, engineering, and business provides him with the excellent basis for understanding and teaching investments and financial planning.He is also a very successful investor who has been investing in common stocks and mutual funds since 1980. He has also personally invested in both 401(K) and IRA plans, so he is familiar with participation and management of these types of investments. He has been investing in indexed common stock mutual funds since 1990.Dale became a Registered Financial Advisor in the State of Illinois in 2006 and is currently launching his business as a fee-only financial planner. He is President of Maley Financial Planning LLC.
Read more from Dale Maley
Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros Rating: 0 out of 5 stars0 ratingsHow to Build a Fascinating Ratcheting Wood Model Rating: 0 out of 5 stars0 ratingsWho Are The Bogleheads And Should You Become One? Rating: 0 out of 5 stars0 ratingsHow to Use Psychology to Achieve Your Financial Goals Rating: 0 out of 5 stars0 ratingsWhat Is The Optimum Method to Convert a Retirement Portfolio Into Income? Rating: 0 out of 5 stars0 ratingsWhat are the Requirements for Becoming a Financial Planner? Rating: 0 out of 5 stars0 ratingsAre Black Swans Really Harmful to Ordinary Investors? Rating: 0 out of 5 stars0 ratingsFinancial Planning for Medical Doctors Rating: 5 out of 5 stars5/5How Would Have a Low-Cost Index Fund Approach Worked During the Great Depression? Rating: 0 out of 5 stars0 ratingsHow to Cut the Cost of Your Auto and Homeowner's Insurance Rating: 0 out of 5 stars0 ratingsShould Immediate Annuities Be a Tool in Your Retirement Planning Toolbox? Rating: 0 out of 5 stars0 ratingsDo I Need an Investment Policy Statement? Rating: 4 out of 5 stars4/5How Asset Allocation Can Help You Achieve Your Financial Goals Rating: 5 out of 5 stars5/5How Do I Maximize Retirement Income From My Portfolio? Rating: 0 out of 5 stars0 ratingsBe Very Wary of Equity Indexed Annuities Rating: 0 out of 5 stars0 ratingsDo I Need Umbrella Insurance? Rating: 0 out of 5 stars0 ratingsHistory of Murders Committed in Fairbury, Illinois Rating: 0 out of 5 stars0 ratingsHow Do I Estimate Retirement Living Expenses? Rating: 0 out of 5 stars0 ratingsShould I Pay Off My Mortgage Early? Rating: 0 out of 5 stars0 ratingsDo I Need Long-Term Care Insurance? Rating: 0 out of 5 stars0 ratingsHow to Save and Invest for Retirement Rating: 0 out of 5 stars0 ratingsHow Can I Retire If I Am 62 and Broke? Rating: 0 out of 5 stars0 ratingsWho Wins the Variable Annuity Versus Mutual Fund Battle? Rating: 0 out of 5 stars0 ratingsHow Do I Design My Own Financial Plan? Rating: 0 out of 5 stars0 ratingsHow to Find a Good Financial Planner Rating: 0 out of 5 stars0 ratingsShould Municipal Bonds be a Tool in Your Retirement Planning Toolbox? Rating: 0 out of 5 stars0 ratingsRules of Thumb or Retirement Planning Software? Rating: 0 out of 5 stars0 ratingsFire Your Over-Priced Financial Advisor and Retire Sooner Rating: 5 out of 5 stars5/5Are 529 Plans Really the Best Way to Save for College? Rating: 0 out of 5 stars0 ratings
Related to How Much Income Do I Really Need in Retirement?
Related ebooks
How Can I Retire If I Am 62 and Broke? Rating: 0 out of 5 stars0 ratingsHow Do I Estimate Retirement Living Expenses? Rating: 0 out of 5 stars0 ratingsThe Real Retirement: Why You Could Be Better Off Than You Think, and How to Make That Happen Rating: 5 out of 5 stars5/5Should Immediate Annuities Be a Tool in Your Retirement Planning Toolbox? Rating: 0 out of 5 stars0 ratingsThe 5 Years Before You Retire, Updated Edition: Retirement Planning When You Need It the Most Rating: 3 out of 5 stars3/5How To Retire Without Money Rating: 0 out of 5 stars0 ratingsFire Your Over-Priced Financial Advisor and Retire Sooner Rating: 5 out of 5 stars5/5The New Rules of Retirement: Strategies for a Secure Future Rating: 0 out of 5 stars0 ratingsPensionless: The 10-Step Solution for a Stress-Free Retirement Rating: 4 out of 5 stars4/5The 4% Rule and Safe Withdrawal Rates in Retirement: Financial Freedom for Smart People Rating: 5 out of 5 stars5/5Retirement Income for Life: Getting More without Saving More (Second Edition) Rating: 5 out of 5 stars5/5Income for Life: The Retiree's Guide to Creating Income From Savings Rating: 0 out of 5 stars0 ratingsConfessions of a Financial Planner: Secrets to a Secure Retirement Rating: 0 out of 5 stars0 ratingsHow Do I Design My Own Financial Plan? Rating: 0 out of 5 stars0 ratingsWhy We Don't Save Enough for Retirement and How You Can Save More Rating: 5 out of 5 stars5/5Should My Asset Allocation Include My Pension and Social Security? Rating: 0 out of 5 stars0 ratingsInvesting For Beginners Book: Investing Basics and Investing 101 Rating: 0 out of 5 stars0 ratingsAutomatic Passive Income - How the Best Dividend Stocks Can Generate Passive Income for Wealth Building. Rating: 4 out of 5 stars4/5You Can Retire Early!: Everything You Need to Achieve Financial Independence When You Want It Rating: 3 out of 5 stars3/5The Book on Retirement Rating: 0 out of 5 stars0 ratingsThe 250 Retirement Questions Everyone Should Ask Rating: 0 out of 5 stars0 ratingsHow to Read Your Way to Financial Wealth Rating: 0 out of 5 stars0 ratingsHSA: Start Here (Second Edition) Rating: 0 out of 5 stars0 ratingsCanada's Public Pension System Made Simple: The Secrets to Maximizing Your Retirement Income from Government Pensions Rating: 0 out of 5 stars0 ratingsHow Do I Maximize Retirement Income From My Portfolio? Rating: 0 out of 5 stars0 ratingsWhy a Reverse Mortgage?: Real-life Success Stories Rating: 0 out of 5 stars0 ratingsEnough Bull: How to Retire Well without the Stock Market, Mutual Funds, or Even an Investment Advisor Rating: 4 out of 5 stars4/5How to Find a Good Financial Planner Rating: 0 out of 5 stars0 ratingsHold (Review and Analysis of Chader, Doty, Mckissack and Mckissak's Book) Rating: 0 out of 5 stars0 ratingsThe Real Estate Retirement Plan: An Investment and Lifestyle Solution for Canadians Rating: 5 out of 5 stars5/5
Personal Finance For You
We Should All Be Millionaires: A Woman’s Guide to Earning More, Building Wealth, and Gaining Economic Power Rating: 4 out of 5 stars4/5The Psychology of Money: Timeless lessons on wealth, greed, and happiness Rating: 5 out of 5 stars5/5The Millionaire Next Door Rating: 4 out of 5 stars4/5Summary of The 48 Laws of Power by Robert Greene Rating: 4 out of 5 stars4/5The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness Rating: 4 out of 5 stars4/5Set for Life: An All-Out Approach to Early Financial Freedom Rating: 4 out of 5 stars4/5The Black Girl's Guide to Financial Freedom: Build Wealth, Retire Early, and Live the Life of Your Dreams Rating: 5 out of 5 stars5/5Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life Rating: 4 out of 5 stars4/5The Money Answer Book Rating: 4 out of 5 stars4/5The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns Rating: 4 out of 5 stars4/5Just Keep Buying: Proven ways to save money and build your wealth Rating: 5 out of 5 stars5/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5Summary of I Will Teach You To Be Rich: by Ramit Sethi | Includes Analysis Rating: 4 out of 5 stars4/5The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime Rating: 5 out of 5 stars5/5Good to Great: Why Some Companies Make the Leap...And Others Don't Rating: 4 out of 5 stars4/5Financial Feminist: Overcome the Patriarchy's Bullsh*t to Master Your Money and Build a Life You Love Rating: 5 out of 5 stars5/5Principles: Life and Work Rating: 4 out of 5 stars4/5The Financial Diet: A Total Beginner's Guide to Getting Good with Money Rating: 4 out of 5 stars4/5Rich Dad Poor Dad Rating: 5 out of 5 stars5/5Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Rating: 5 out of 5 stars5/5Suddenly Frugal: How to Live Happier and Healthier for Less Rating: 3 out of 5 stars3/5Get the Hell Out of Debt: The Proven 3-Phase Method That Will Radically Shift Your Relationship to Money Rating: 5 out of 5 stars5/5Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple Rating: 5 out of 5 stars5/5Bad with Money: The Imperfect Art of Getting Your Financial Sh*t Together Rating: 4 out of 5 stars4/5
Reviews for How Much Income Do I Really Need in Retirement?
0 ratings0 reviews
Book preview
How Much Income Do I Really Need in Retirement? - Dale Maley
how much income do i really need in retirement?
by
Dale C. Maley
SMASHWORDS EDITION
* * * * *
PUBLISHED BY:
Artephius Publishing on Smashwords
How Much Income Do I Really Need in Retirement?
Copyright © 2010 by Dale C. Maley
All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.
Q: What areas of investing have you been exploring since the publication of your book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros?
A: The last