Faith And Finances

Experts estimate that you will need 70% of your pre-retirement income to maintain your standard of living. Do you expect your standard of living to be 30% less expensive than your current standard? According to the US Dept. of Labor, fewer than half of Americans have calculated how much they need to save for retirement. Yet, the average American will spend 20 years in retirement. Also consider that you could be physically unable to work earlier than your current planned date of retirement.   In This Episode, We Look At: Planning your future source of income More than 21 million American workers expect to rely on Social Security in retirement. Unfortunately, 56% admit to not having a good understanding of social security benefits. Many who reach retirement age will continue to work, utilizing their years of experience and wisdom in a capacity that they may enjoy more than having to work for someone else. Who is saving for Retirement? 76% of Americans are living paycheck to paycheck. The majority c