Ryan explains how SRP guides retirees to a goal for a numerical retirement amount.
SRP’s Methodology Behind Knowing when you have Enough to Retire.
How much money you need to retire is not as simple of an answer as you may think. What we mean by this is that we have some clients who have $2 million dollars saved and it isn’t enough for what they spend, however, we also have clients who have $250,000 and its more than enough. In order to answer the question of, “How much do I need to retire?”, there are a couple key things that we need to know.
The first key thing to know is, what is your budget or spending plan? This being how much money you want monthly to reach your ideal retirement lifestyle.
As well as what other assets do you have coming along with your investable assets to create streams of income.
Those two key factors are what we at SRP need to know in order to set you up for success in retirement and answer your question of “How much money do I need to retire?”.
