Home
>
Wealth Building
>
Do You want to Live on Macaroni and Cheese when You Retire or Filet Mignon?

Do You want to Live on Macaroni and Cheese when You Retire or Filet Mignon?

How Much Money Will I Need to Earn to Retire?

This is the most common concern of people who are contemplating retirement. While most financial planners would tell you that you need to earn as much in retirement as you did while you were working, this isn't always the case. Much of this depends on your lifestyle.

If you own your house and it is debt-free, you often need less income than a retiree who is renting.

If you want to travel and see the world, you will need more income.

If you do not plan on leading a very active social life in retirement, often you will need less income.

If you want to set up education trusts for your grandchildren, you will need more income.

If you are flexible enough to consider living in Mexico, you will need less income.

If you plan on working part-time or run a business after you retire, you will need less income.

By the way, I have never met a retiree yet who has told me that they had too much money when they retired!

The big trade-off for saving for retirement is that often you are giving up quality of life now to insure quality of life in the future. I know some people who are so obsessed with saving for the future that they are not really enjoying life in the now moment. On the other hand, I know many more people who are not preparing at all for the future and they may not be living very well at all when they retire.

Excerpted from Transform YOUR Relationship with Money: A Step-by-Step Guide for Financial Empowerment. For more information about this guide, please check out my web site located at http://transformyourrelationshipwithmoney.com

Bill Austin is a spiritual healer and teacher based in St Petersburg FL. He has assisted hundreds of people around the world in gaining the clarity they need to realize more of their full potential. To find out more about his healing practice, please check out his web site at http://transformyourrelationshipwithmoney.com

efficient cleaning crew Northbrook ..

In The News:

Chinese hackers used Anthropic's Claude AI to launch autonomous cyberattacks on 30 organizations worldwide, marking a major shift in cybersecurity threats.

Apple's new Sleep Score feature gives you a rating for your nightly rest quality. Learn how to set it up on your Apple Watch and iPhone today.

Essential phone settings to enable before losing your device, including Find My network, location services and security features for iPhone and Android.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Cybersecurity research shows weak passwords remain a major threat, with simple patterns and number sequences putting millions of accounts at risk.

New Android malware BankBot YNRK silences phones, steals banking data and drains crypto wallets automatically. Learn how this advanced threat works.

FDA approves first human trial for Paradromics' brain-computer interface that could restore speech for paralyzed patients through neural technology.

New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.

OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.

Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.

New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.

DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.

Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.

Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.

Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.

A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.

South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.

Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Fake AI apps disguised as "ChatGPT" and "DALL·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.

Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.

Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.

NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.

Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.

Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.

Do You want to Live on Macaroni and Cheese when You Retire or Filet Mignon?

Wealth Building