Equalizing Pre- and Post-Retirement Income: An After-Tax Approach
Author: Richard B. Malamud.
Source: Volume 24, Number 01, Fall 2006 , pp.3-11(9)
Abstract:Certified Financial Planners, CPAs, insurance agents, and other professionals often project the future financial needs of a client who is approaching retirement age. Their reports may say that in order to continue with their current lifestyle, a client will need to replace up to 100% of their current income. As one article points out, workers are underestimating the percent of pre-retirement income they might need in retirement. At present, many financial planners suggest replacing at least 75 percent of pre-retirement income in retirement, if not 100 percent.
Affiliations: 1: California State University.