To retire at 65 and live on investment income of $100,000 a year, you'd need to have $2.5 million invested on the day you leave work. If you reduced your annual spending target to $65,000, you'd need a starting balance of about $1.6 million in a taxable investment account. Brian Fry, a certified financial planner at Safe Landing Financial, recommends an asset allocation of 60% stocks and 40% bonds to ensure the account's growth and provide a steady income for decades.
To retire at 65 and live on investment income of $100,000 a year, you'd need to have $2.5 million invested on the day you leave work. If you reduced your annual spending target to $65,000, you'd need a starting balance of about $1.6 million in a taxable investment account. Brian Fry, a certified financial planner at Safe Landing Financial, recommends an asset allocation of 60% stocks and 40% bonds to ensure the account's growth and provide a steady income for decades.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »