Thoughts On A Healthy Retirement From From NPR
I've been listening and enjoying National Public Radio (NPR) a lot more recently. It makes commuting a little more pleasant. Last week's Morning Editon featured Chicago Tribune columinist Gail MarksJarvis and author of a new book on retirement planning provide her thoughts and podcast.
Imagine that you have saved what the majority of Americans who are 10 years away from retirement have saved: It's no more than $88,000, according to the latest research by the Congressional Research Service. What would $88,000 give you? If you bought an annuity when you retired—an insurance policy that promises you a certain monthly income for life—you would be able to buy one that would give you about $653 a month.
So that's perhaps $653 from your lifetime savings, and $1,011 in Social Security—or about $1,664 a month to live on.
How does that sound?
Wise Owl