September 2009
Beginner
296 pages
6h 20m
English
Content preview from The New Savage Number: How Much Money Do You Really Need to Retire?Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Chapter 3. THE 10 KEY QUESTIONS
Let's see where we are so far. Retirement is the goal. You're willing to face the challenge of finding the Savage Number. You tested yourself and realized you'll need some help getting there. You've bought into the principle that time is money. And you're worried about being able to retire.
So let's get specific about the 10 key questions you'll face in retirement planning. Ask yourself:
How long will I live?
What will inflation do to the value of my savings?
How can I save enough?
How should I invest the money I've saved for retirement?
How much will I spend to live in retirement?
How much can I withdraw each month without running out of money?
What's the biggest danger to my retirement plans?
How can I earn money during retirement?
How can I retain control of my financial life?
What if I have money left over when I die?
Let's take the questions one by one. But keep in mind that while it's easier to explain things in terms of averages, very few things in real life are actually average. It's not averages you need to deal with in retirement planning, but probabilities. They're much more likely to get you to your retirement goal. So the average numbers in this chapterare just designed to give perspective. Dealing with specific probabilities for your retirement plan comes in the next section.
How Long Will I Live?
This is truly the one unanswerable question. The life expectancy for the overall U.S. population was a record 76.9 years in 2000. But for today's healthy ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.