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By Ralph Bovitz, CPA, PFS
How much do I need to
retire? The real question is, how much will I spend in retirement? As a
rule of thumb, if you have liquid assets that are 50 to 100 times greater
than your living expenses during retirement, you probably don’t have to
plan. On the other hand, if your liquid assets at retirement are less than
5 times greater than your living expenses during retirement, planning won’t
help! If you’re in-between these two extremes, you have to plan for
retirement. Let’s put some numbers to these rules-of-thumb.
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