The chapter explores strategies for estimating retirement income from investments and social security, highlighting the importance of planning for different income sources and managing uncertainties. Tools like New Retirement, Personal Capital, and Fritz's spreadsheet are discussed for analyzing the impact of income streams and ensuring financial sustainability.
Will you have enough to money to retire (early or otherwise)? Achieving financial independence requires many key elements to be in place and special consideration if you plan to retire early. You need a plan: what will you do? What will you spend? Where will it come from?
In this episode, Eric and Jason discuss a recent blog post by Fritz @ The Retirement Manifesto where he discusses the "10 Steps to Make Sure You Have Enough Money to Retire". We cover how we've been designing our "dream retirement", how we track current expenses and project future spend, how Jason is drawing down assets and Eric's evolving plan to use "the bucket strategy", and much more.
**H/T to Fritz's post "10 Steps to Make Sure You Have Enough Money to Retire", please see his article at The Retirement Manifesto: https://www.theretirementmanifesto.com/10-steps-to-make-sure-you-have-enough-money-to-retire-2/