REWahoo
Give me a museum and I'll fill it. (Picasso) Give
The May 29 issue of US News & World Report has an article on saving too much for retirement:
http://www.usnews.com/usnews/biztech/articles/060529/29saving.htm
It is primarily about Bernicke's report of declining spending as retirees age. A couple of interesting quotes:
Over the years, financial adviser Richard Ferri has seen a few clients go to that great retirement community in the sky. And they have all left behind something: money. Lots of it. "We've never had a client die with less money than they retired with," says Ferri, who works in Troy, Mich. "If they retire with $2 million, they end up with $4 million. The value of the account goes up more than they anticipated, and they don't spend as much as they thought they were going to spend."
Dory, this one may interest you as it refers to retirement calculators... and makes a point that no generally available calculator allows for reduced spending calculations. Obviously USN&WR is not aware of your recent hard work.
Bernicke is not aware of any free or low-cost calculators that don't make the traditional assumptions [that spending will not decline]. (According to Bernicke, some financial companies have adjusted their planning software to take into account his report on spending patterns, but the software isn't designed for the public to use.)
http://www.usnews.com/usnews/biztech/articles/060529/29saving.htm
It is primarily about Bernicke's report of declining spending as retirees age. A couple of interesting quotes:
Over the years, financial adviser Richard Ferri has seen a few clients go to that great retirement community in the sky. And they have all left behind something: money. Lots of it. "We've never had a client die with less money than they retired with," says Ferri, who works in Troy, Mich. "If they retire with $2 million, they end up with $4 million. The value of the account goes up more than they anticipated, and they don't spend as much as they thought they were going to spend."
Dory, this one may interest you as it refers to retirement calculators... and makes a point that no generally available calculator allows for reduced spending calculations. Obviously USN&WR is not aware of your recent hard work.
Bernicke is not aware of any free or low-cost calculators that don't make the traditional assumptions [that spending will not decline]. (According to Bernicke, some financial companies have adjusted their planning software to take into account his report on spending patterns, but the software isn't designed for the public to use.)