2007-11-30 08:26:39 · 5 answers · asked by doublecatbatik.com 1 in Business & Finance ➔ Personal Finance
doubtful - most people have very little money saved for retirement by age 50, never mind the knowledge to run simulations - usually only financial types like myself might think of that (Accounting Mgr)
2007-11-30 08:45:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I don't think so. I know too many people who retire and then are surprised that they need to find a job to make ends meet. Watch the questions here and you will see some that will boggle your mind. "I only need $100 a month for groceries and my house is almost paid for so I am going to retire on social security - any suggestions where I should invest my $2000 savings"? Retirement will be a real rude awakening.
2007-11-30 08:44:01 · answer #2 · answered by justwondering 6 · 0⤊ 0⤋
I would hope so. The laws of compounding support individuals who begin to save and plan for the future financially as early in life as possible. As for cash flow needs during retirement, that will be based on various factors and can be fine tuned when closer to retirement. The general assumption of cash flow needs after retirement is ~70-80% of your ending salary, but obviously depends on individual situations like mortgage costs and taxes (the largest of fixed personal costs).
2007-11-30 08:35:29 · answer #3 · answered by drewdogg0117 1 · 1⤊ 0⤋
No!
1. Because they do not know how to get it
2. Because they know it would force them to face the truth.
2007-11-30 08:39:29 · answer #4 · answered by Tim C 7 · 1⤊ 0⤋
i think so but maybe not many people do cuz they like to spend money. think of all the credit card companies. a lot of people are in debt
2007-11-30 09:07:43 · answer #5 · answered by Anna 2 · 0⤊ 1⤋