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The Cost of Retirement Has Tripled! But a New Way of Planning Can Help

March 31, 2021

From the Kiplinger website

You will need much more in retirement savings today to produce the same amount of retirement income as before, Advisor Perspectives magazine reported last month. Three times more!

Current low interest and dividend rates simply make it impossible, the article said, to replicate the income of just a few years ago. For instance, historically it has cost $26,267 in savings to produce $1,000 of annual income with a 50/50 portfolio. As of January 2021 you need about $79,118 to reap that same $1,000.

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