One Big Thing People Forget to Consider When Thinking About How Much They Need to Retire.
How much you need to retire depends on the expectations for life in retirement. Therefore, before thinking about how much money you will need, it is crucial to think through your expectations for retirement. There are several key factors that could impact the number such as plans to work in retirement, traveling, hobbies, grandkids, and healthcare. The number can also vary depending on the location you plan to retire at.
Our CEO Marianela Collado, CPA/PFS, CFP®, CDS® was recently quoted on MarketWatch, stating that “the cost of living in another state, or even another country, could positively impact the plan if the cost of living is much lower. Heck, instead of needing $5 million, maybe it’s only $3 million if it takes half as much money to live outside the U.S.”
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