Topic 6 – What’s Your Number

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We’ve all seen those commercials on TV of what’s your retirement number. Oftentimes people think if I have enough money in the bank, I’ll be able to retire. Well, what’s your number? You remember the people holding the big checks as they walked down the street with the million dollars on them, or $786,000. Well, that was their retirement number. It was used and calculated to be able to provide them with enough retirement income throughout the remainder of your life. So what’s your number? Now, when we’re looking at the numbers, you need to do the planning to see how much we will have to accumulate to be able to distribute your number to you, which would be in the form of retirement income. This is going to be approached differently than our accumulation years when we were growing assets, because income allocation looks at the distribution of income throughout your retirement years. And during our accumulation years, we are more focused on growth. We are more focused on attaining that number that we had to reach to be able to retire right, or retire comfortably.

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