Tham khảo tài liệu 'dearborn trade publishing secure your financial future investing in real estate_3', tài chính - ngân hàng, ngân hàng - tín dụng phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | GREAT EXPECTATIONS 29 FIGURE RETIREMENT INCOME WORKSHEET 1. Annual Income Goal 100 of your current income 2. Estimated Social Security Benefits 3. Estimated Pension Benefits 4. Retirement Income Gap subtract lines 2 and 3 from line 1 5. Lump Sum Needed divide amount on line 4 by .03 6. Current Retirement Assets IRA 401 k and other sources 7. Total Lump-Sum Gap subtract line 6 from line 5 To use the table find your earnings level on the left and the chart will give you an idea on the right of your expected benefits. As we mentioned earlier this exercise is overly simplified to provide a basic understanding of what kind of retirement nest egg you are going to need. By relating the monthly income needed to a lump sum we hope to help you visualize the task that lies ahead. Many of you will have various types of assets that will provide you with a retirement income. Assets are great but when you are retired and not bringing in a paycheck all that really counts is the monthly income those assets may or may not generate. As mentioned earlier if you have a lot of equity in your home and a valuable art collection you would rather not sell neither can be used in calculating your lump-sum gap. In reality these kinds of assets usually just increase the gap. 30 SECURE YOUR FINANCIAL FUTURE INVESTING IN REAL ESTATE FIGURE MONTHLY SOCIAL SECURITY BENEFITS IN TODAY S DOLLARS 2005 Earnings 30 000 40 000 50 000 60 000 Maximum Benefits 906 1 094 1 281 1 469 1 822 DREAM A LITTLE DREAM The following exercise is one that we hope will get you to act and invest differently. In all likelihood if you ve been working for 20 years and have accumulated a large deficit on the lump-sum line of the Retirement Income Worksheet in Figure you re probably not going to accumulate the balance you need to retire the way you re going. So if you continue to do what you have done you will be one of the 95 percent who are broke at retirement. Yes you can sell the home or the paintings but we don
