The first step of knowing how much you need to retire begins with understanding your spending. And the way you spend won’t always stay the same. In retirement, there are additional costs, like healthcare, that you need to account for in your plan.
Once you understand how much you will be spending, it’s important to understand where you’ll be receiving income. You might have a number of income sources, so it’s important to enter this stage with a strategy. Because how you withdraw from your accounts could be the difference of $100,000s throughout your retirement.
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