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Saving at least 15% of your annual income is an appropriate way of savings for retirement funding. According to statistics for a retirement period of 25 years, 4.9% of withdrawal rate works 90% of the time.
What is the average savings rate for retirement funding and the average retirement withdrawal rate?
Retirement planning includes multiple steps that evolves with time.
The process involves determining different time horizons to estimate expenses, risk tolerance assessment, calculations of after tax returns and estate planning.
To take the advantage of compounding power, one has to start retirement plans.
Saving at least 15% of your annual income is an appropriate way of savings for retirement funding.
According to statistics for a retirement period of 25 years, 4.9% of withdrawal rate works 90% of the time.
The withdrawal rates reflects the percentage that can be derived from the portfolio every year without any depletion. In a nutshell it gives an estimation of how long the money will last.
To learn more about the average savings rate for retirement funding, refer
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