Have An Excellent Retirement In Between

Get Rich

To get rich, you must spend less than you earn, and invest the difference. Your goal is to build a nest egg for your retirement. If your employer offers a 401(k) plan with company contributions, you put the maximum amount possible into that plan. And you contribute as much as is allowed to individual IRA accounts. You invest your 401(k) plan, your IRA savings, and your taxable savings in a portfolio of investments tailored to your objectives and you review the performance of these investments periodically.

Die Broke

The conventional wisdom used to be: build your net worth while earning, live frugally in your retirement, and leave an estate to your heirs when you die. Now there is a new wisdom: die broke. This means that you should build your worth while earning and then manage your money while retired to maximize the enjoyment of your retirement life style. Spend down your worth for your own benefit. This can include giving yearly gifts to your loved ones, so they can still receive money from you, and you can enjoy the pleasure of giving these gifts while you’re alive. Use your money while you can enjoy it. Leave only enough to settle your affairs.

Have An Excellent Retirement In Between

Plan now for your retirement. Determine a yearly life style budget so that you can have the excellent retirement life style you deserve. But at the same time you don’t want to withdraw so much that you run out of money too early. And you don’t want to withdraw so little that you stint on your life style and die with large amounts still in your estate.

Can You Do It?

Yes, with planning and follow through. Save now. Invest wisely. Learn about the rules that effect your savings and retirement. To get the maximum benefit from dying broke, you must make sure your wealth is used in the most efficient manner.

Test Your Assumptions Now

This program forecasts the results of your plan using the assumptions you make about your savings, your rate of return on investments, the inflation rate, and your income tax bracket. Enter these assumptions along with your current financial information, and this program will forecast your future cash flow and net worth. Your goal is to adjust your assumptions to end up with the desired yearly cash in-hand for your retirement life style along with the desired amount left over in your estate when you die. You may be surprised at the results. You especially should try out different tax rates, different inflation rates, and different rates of investment earnings. They can make dramatic changes in the money available for your retirement life style.

Test Your Assumptions Often

Use this program often. Your financial situation will change over time. Change your assumptions to reflect your current status. Adjust your current financial account balances. This program’s financial forecast is only a guide to what the future may hold. It needs to be done again and again to keep it up to date.

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