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In order to retire with some security, you must aim at something. Too
many people use the READY-FIRE-AIM approach to retirement planning.
Your assignment is to determine how much per month you should be
saving at 12% interest in order to retire at 65 years old with what you
If we are saving at 12% and inflation is at 4%, then we are moving
ahead of inflation at a net of 8% per year. If you invest your nest egg at
retirement at 12% and want to break even with 4% inflation, you will be
living on 8% income.
Annual Income (today) you wish to retire on: ___________________
divide by .08
(Nest egg needed)equals: ___________________
To achieve that nest egg you will save at 12% netting 8% after inflation so
we will target that nest egg using 8%.
______________ X _____________ = _____________________
Nest Egg Needed Factor Monthly Savings Needed
8% Factors (select the one that matches your age)
YEARS To SAVE
Note: Be sure to try one or two examples if you wait 5 or 10 years to start.