@ClementsMoney Hump Day Help – Calculate Your Required Nest Egg

by | 27Jun2018 | Hump Day Help, Retirement | 0 comments

Welcome to the Hump Day Help. Each Wednesday we take one of the weekly actions from Jonathan Clements‘ blog Humble Dollar and “militarize” it for you. Jonathan Clements was a longtime personal finance columnist for The Wall Street Journal, and he offers great advice at the best price you can get…free. Here is this week’s Hump Day Help:

CALCULATE YOUR REQUIRED NEST EGG. Once retired, you’ll likely have Social Security and perhaps a traditional employer pension. How much additional income will you need for a comfortable retirement? This money will need to come from savings. Take your desired portfolio income, multiply by 25—and you’ll have an estimate for how big a nest egg you need.

 

If you stay in for 20 years or more, you’ll have a pension. That pension is very valuable and will greatly reduce the size of your required nest egg. That’s one of the major points of this site – just stay in to get rich.

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