Retirement Replay: How Much Money Do You NEED To Retire, Ep #79

<p><span style="font-weight: 400;">One of the most common questions asked of financial advisors who specialize in helping people plan for retirement is the main question that makes our services necessary: How much money is needed for an adequate retirement fund? There are a handful of ways to answer the question and I try to walk through them in short order on this replay episode of the podcast.</span></p> <h2><span style="font-weight: 400;">You will want to hear this episode if you are interested in...</span></h2> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">[3:25] The Retire Inspired Quotient</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">[5:50] Fidelity’s rule of thumb for retirement</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">[8:10] The average 401k balance</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">[11:38] An example where the rule of thumb doesn’t fit</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">[13:33] What you need depends on retirement goals</span></li> </ul> <h2><span style="font-weight: 400;">Resources & People Mentioned</span></h2> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Dave Ramsey</span> <a href= "https://www.youtube.com/watch?v=uggSmPDo-Zw"><span style= "font-weight: 400;">YouTube Video</span></a></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">The</span> <a href= "https://www.ramseysolutions.com/retirement/riq"><span style= "font-weight: 400;">Retire Inspired Quotient</span></a></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Fidelity’s article on</span> <a href= "https://www.fidelity.com/viewpoints/retirement/how-much-do-i-need-to-retire"> <span style="font-weight: 400;">Retirement</span></a></li> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.nerdwal