An annual income need of $80,000 in retirement now will be over $100,000 in just ten years, assuming the same rate of inflation as the previous ten years.
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For the average retiree household with an income need of $80,000, Social Security benefits will only meet about 50% of their income needs. The rest will will need to come from retirement investments.
The higher the income need, the lower the percentage their income needs will be met by their Social Security benefits.
While all investors want to see a high rate of growth in their investments, the higher the growth potential, the higher the risk. Thus, an important factor to consider when choosing an investment strategy is how much risk you and your assets can comfortably handle.
If you’d like to find out your personal investment risk profile, click the button below.
