Retirement Planning/Retirement Income

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Question
Hello:

How does someone determine (calculate) how much to spend monthly, for a 20-year period as an example, during retirement if he has $200,000 available?

Is there an online calculator that can be used?

I thank you for your reply.

Answer
kenneth,

Yes, there are some great calculators out there, but the numbers you have to plug in are a bit arbitrary.  There is no way to be certain of inflation and investment returns, so you should be conservative.  Visit the "Retirement Income Planner" in the Fidelity site and you will see some great resources.

Joe DiDomenico

Retirement Planning

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Joe DiDomenico

Expertise

I can answer any questions related to Individual Retirement Accounts (IRA). This includes what can and can't be done with an IRA because of IRS regulations. I can also answer questions about the different types of retirement accounts and how they apply to different people in different situations. I can help direct people on what steps to take next with their retirement accounts.

Experience

I was a Financial Consultant at Merrill Lynch for 7 years and a Senior Vice President at CitiGroup for 3 years.

Organizations
N/A

Publications
I wrote a book entitle, "Blame It On the Broker", currently for sale on Amazon.

Education/Credentials
Bachelor's in Financial Services from San Diego State University

Awards and Honors
N/A

Past/Present Clients
hundreds

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