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How Many Years of Retirement Should You Prepare For?

August 9, 2020

From the Motley Fool website

“Retirement is like a long vacation in Las Vegas. The goal is to enjoy it to the fullest, but not so fully that you run out of money.” This quote from Jonathan Clements is as apt a description as you can get. 

Unfortunately, one of the most challenging aspects of retirement planning is that you have no idea how long your money will have to last. You can’t possibly know how long you’re going to live, so it’s pretty hard to figure out how many years of spending to plan for. There is data that can give you an idea of your average life expectancy. which can be helpful to get a better idea of how large your nest egg needs to be.

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