- 42 percent of income from an employer-sponsored plan (27 percent from 401(k), 15 percent from pension).
- 25 percent of income from personal savings or investment account such as an IRA.
- 16 percent of income from social security.
- And 17 percent of income from other sources.
- Develop a plan you can stick to. Evaluate it critically to ensure it will provide the lifestyle you’re looking for. Don’t hesitate to seek help — whether you use an online tool or consult an investment professional.
- Prioritize your expenses. Be honest with yourself: ask which expenses are must-haves and which are nice-to-haves.
- Be comprehensive. Develop a holistic investment strategy designed to generate dependable cash flows throughout your retirement.
- Stage your income. Identify which sources will provide income at each stage of your retirement. For example, your monthly social security payments should be higher if you’re able to subsidize your income until age 70.
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