![]() Next, add up all the income you might receive in your post-working years. ![]() Remember, some of the costly expenses you have now, such as a mortgage or childcare costs, will no longer exist, which could result in a decrease in your overall expenses as you near retirement. You'll also want to factor in your day-to-day expenses, like housing costs, food and health care. So plan for higher prices in the decades ahead. We don't know what prices will be like in the future, and in recent years inflation has run below the Fed's benchmark of 2%, but the average inflation rate in the U.S. Then think about how much everything will cost.
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