If only retirement income planning were as easy as answering one question: "What is your number for lifetime retirement security?"
That would be nice if retirement boiled down to just one number. But this oversimplifies what it takes to enjoy a secure retirement because, in truth, it requires a customized income planning approach.
Why? Because determining how much money you need in retirement is just as much a personal question as it is a mathematical one.
Just think about your goals and what you might need financially to make them happen. Do you plan to travel? To begin a career 'second act' by getting involved with entrepreneurship or consulting? To donate time and resources to causes that are near and dear to you personally?
Bottom-line, everyone will have different income needs. So, here are five important tips to help guide you through your retirement income planning process. You can also further explore some topics by checking out the other SafeMoney articles linked to throughout this piece.
