Income Planner ®
How much will you need in monthly income after you retire? How much can you afford to draw from your pension lump sum and 401k? The Retirement Income Planner ® is the indispensable tool which answers these questions.
Below is a simple exercise you can perform to determine whether or not you can afford to retire. It may also help you decide if you will need to work part-time after you leave Verizon. Simply insert the appropriate figures into the “calculator."
If you are a little short, you can retire, but you may need to do some part time work. More than 50% of Verizon retirees are involved in some form of gainful employment. If you have more questions, call. Or email: email@example.com
If you are more than $150,000 short of retirement, you should probably continue to work, pay off your debts as fast as you can and keep looking for that date when the numbers work for you. Call us to help set that all-important retirement date.
Your age matters. If you are 57 you are close enough to receiving Social Security at age 62 that you can do something called a “draw down” IRA. A “draw down” IRA lets you retire successfully even if the numbers you have don’t look very good. We’ll discuss the advisability of this.
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