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You’ll Spend Less in Retirement Than You Think – Season 3: Episode 5

Retirement income calculators are everywhere online.  What’s more, they’re fairly simple in nature: plug in some current income and savings, expected rate of return, an inflation factor, and eventually it’ll spit back a number that you should aim to have in your portfolio that’s supposed to give you the income you need.  The trouble is – they’re often way off the mark.

They may tell you that if you need, say, $100,000 of income to retire at age 65, then that number will rise to perhaps $230,000 or more by the time you’re age 95 because of the inflation factor. But from our experience, this just isn’t practical in the real world.  As retirement goes on, spending (and income needs) tend to go down over those years – not up.

What this means is that you may not need to have as much socked away in your portfolio as those online calculators would suggest.  Find out more about retirement spending, retirement income, and the potential value of financial advice with hosts Johnny Dean and “Professor” Rick Plum on this week’s edition of Managing Your Financial Future!

Important Information:

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Examples cited are hypothetical, are for illustrative purposes only, are not guaranteed and subject to potential federal and state law amendments. There is no guarantee that you will achieve the results discussed or illustrated.

You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal.

This material was gathered from sources believed to be reliable, however, its accuracy cannot be guaranteed. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

The investment professionals are registered representatives with, and securities and advisory services offered through LPL Financial, a registered investment advisor and member FINRA/SIPC. Lucia Securities, LLC was acquired by LPL Financial August 2020. The investment professionals of Lucia Securities, LLC are now affiliated with LPL Financial and are conducting business using the name Lucia Capital.

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