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How Much Will I Be Spending In Retirement?

Wednesday, August 17, 2011 - 8:57 AM
From CNNMoney
When the big "R" is still decades down the road, it's virtually impossible to tell how much you'll actually spend. So for most of your working days, it's okay to rely on the rule of thumb that says you'll need roughly 80% to 90% of your pre-retirement income to maintain your standard of living once your retire.

The rationale behind that ratio, which is based on studies done over the past 20-odd years by Georgia State University and Aon Consulting, is that you can live as well on less income after retiring, since you'll no longer have to save for retirement or shell out for work-related expenses.

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