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Construct a rough retirement budget. Adjust the average social security check of $1,422.00 at 2% inflation until your retirement date. Do the same with your
Construct a rough retirement budget. Adjust the average social security check of $1,422.00 at 2% inflation until your retirement date. Do the same with your expenses. Determine the difference between expenses and income and then calculate how much you will need to have saved at retirement using the theory that says you will need between 15 and 20 times your projected retirement spending in savings, minus any social security or pensions.
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