Comments on: Here is how much you should have saved for retirement by now https://intentionalretirement.com/2015/03/how-much-you-should-have-saved-for-retirement/ Life is short. Be intentional. Sun, 08 Jul 2018 04:15:55 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Year end wrap up - Intentional Retirement https://intentionalretirement.com/2015/03/how-much-you-should-have-saved-for-retirement/#comment-356 Thu, 31 Dec 2015 20:34:10 +0000 http://intentionalretirement.com/?p=3568#comment-356 […] Here is how much you should have saved for retirement by now […]

]]> By: Joe Hearn https://intentionalretirement.com/2015/03/how-much-you-should-have-saved-for-retirement/#comment-355 Wed, 25 Mar 2015 16:12:45 +0000 http://intentionalretirement.com/?p=3568#comment-355 In reply to Matt.

Hi Matt. That depends. I usually include it in a client’s net worth calculation, but I only include it in their retirement funding calculations if they plan on selling it and using the proceeds to fund retirement. I think you can also include a portion of it if you plan on downsizing to a smaller house and cashing out a portion. For example, if you sell your $300,000 house at retirement and buy a $200,000 house, you could include the $100,000 in cash that you pulled out in your retirement funding calculations. Hope that helps. Thanks for touching base!

]]> By: Joe Hearn https://intentionalretirement.com/2015/03/how-much-you-should-have-saved-for-retirement/#comment-354 Wed, 25 Mar 2015 16:09:25 +0000 http://intentionalretirement.com/?p=3568#comment-354 In reply to Deb Daigle.

Hi Deb. Yes, I think that’s a good way to look at it. Assuming a 3% distribution, your pension would be the relative equivalent of having $1 million. Assuming a 4% distribution it would be similar to having $750,000. The main difference (and it’s an important one) is that you can only use your pension as it arrives. With a portfolio of assets you could use it at whatever time and in whatever amounts you needed. Hope that helps. Thanks for touching base!

]]> By: Matt https://intentionalretirement.com/2015/03/how-much-you-should-have-saved-for-retirement/#comment-353 Wed, 25 Mar 2015 14:53:50 +0000 http://intentionalretirement.com/?p=3568#comment-353 Thank you Mr. Hearn, I so enjoy reading your newsletters.

Should a paid for house be included in the “amount saved”?

Matt

]]> By: Deb Daigle https://intentionalretirement.com/2015/03/how-much-you-should-have-saved-for-retirement/#comment-352 Wed, 25 Mar 2015 14:51:47 +0000 http://intentionalretirement.com/?p=3568#comment-352 I am one of the fortunate ones with a pension to provide some of my retirement income. I have calculated the value of this pension to be the amount that would be needed to produce the same income at a 3% distribution. For example, $30,000 pension would be worth $1,000,000 of savings in these calculations. Do you think this is a valid way to calculate? Would you suggest another way to valuate?

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