Единственный способ выйти на пенсию с финансовой безопасностью — это накопить на пенсию как можно скорее. Хотя откладывание пенсионных сбережений — это хорошее начало в правильном направлении, убедитесь, что вы откладываете достаточно. не менее важно для достижения вашей пенсионной цели.
Как только вы решите, сколько вы будете вносить в свой пенсионный фонд, вы будете ближе к тому, чтобы узнать, находятся ли ваши сбережения на правильном пути. Вот как начать.
Главный вывод заключается в том, что выйти на пенсию можно практически в любом возрасте. Но вы должны быть готовы экономить как можно больше и постоянно.
Создание пенсионных сбережений — это не то, что вы можете сделать из прихоти, поработать несколько лет, а затем бросить. Вам нужно составить план — и чем раньше, тем лучше, — а затем придерживаться его на десятилетия. .
Почему? Потому что совокупный заработок с течением времени — это то, что поможет вам быстрее достичь пенсионной цели.
Когда вы инвестируете в свою пенсию, ваши средства приносят проценты. Эти проценты реинвестируются чтобы заработать больше процентов. Это концепция «сложных процентов». Чтобы успешно спланировать выход на пенсию, очень важно перевести свои взносы на автопилот, чтобы максимизировать свой совокупный доход.
Это начинается с открытия права на пенсионный план или даже комбинацию планов. Оттуда вы можете настроить отчисления из заработной платы или автоматические переводы со своего банковского счета для финансирования любой выбранной вами пенсионной программы.
Вы можете начать откладывать на пенсию, участвуя в пенсионном плане на рабочем месте, если ваш работодатель предлагает его. Обычно это план 401(k), 403(b), 457 или план сбережений (TSP).
В соответствии с действующим законодательством о налоговых взносах вы можете вносить до 19 500 долларов США в год в любой из этих планов или 26 000 долларов США, если вам 50 лет или больше. Некоторые работодатели также предлагают соответствующие взносы, которые ускоряют рост вашего сберегательного фонда.
Ограничение плана, спонсируемого работодателем, заключается в том, что вы часто сами управляете им. Также могут быть ограниченные варианты инвестиций, в том числе те, которые имеют высокие инвестиционные сборы. Хороший обходной путь для этой проблемы — зарегистрироваться у специального робота-консультанта 401 (k), такого как Blooom.
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Получите доступ к онлайн-финансовым экспертам, которые помогут вам спланировать и управлять вашими 401 (k) биржевыми брокерами в Интернете, которые используют базовые стратегии распределения активов, чтобы вы могли инвестировать в свои пенсионные цели. Нажмите на свой штат, чтобы начать работу СЕГОДНЯ. It’s a service that creates and manages a portfolio within your employer-sponsored plan, including replacing high-fee funds with those that charge lower fees. And it provides this service for a low, flat monthly fee. Your employer doesn’t need to be involved in the process — just add Blooom to your existing plan.
If you don’t have access to an employer-sponsored plan, you have a few options depending on your situation. Here are other types of retirement plans to consider:
The number of variables involved in retirement makes it impossible to come up with a specific savings goal to aim for in your situation. But like any plan, you’ll need to have milestones to let you know if you’re on track to retire or not.
Although there are different methods of calculating retirement milestones, the Fidelity Retirement Widget offers the best ballpark figure. The widget is incredibly user-friendly, produces easy to understand results, and is absolutely free to use.
It determines how much money you should have at each age, based on your answers to three questions:
The last question about your lifestyle in retirement is admittedly vague, but an educated guess is enough.
Plugging in a starting age of 25, with an expected age of retirement of 67, and an average lifestyle in retirement, Fidelity provided the following retirement milestones in five-year increments:
Each bar represents a multiple of your current annual income at a specific age. For example, at age 30, your total retirement savings should roughly equal your annual income. At 35, you should’ve saved double your income, and so on until age 67 when you retire.
At that point your retirement savings should be 10 times the amount of your annual income just before retiring. (It will be 12X your income at 67 if you expect an above average lifestyle, but just 8X if you expect to live a below-average lifestyle.)
There’s no guaranteed method to project your exact future earnings or how much your retirement fund will compound over time. The best we can do is a ballpark estimate, especially if you’re only in your 20s or 30s.
But let’s work a loose example to demonstrate the validity of the Fidelity estimate.
Let’s say you reach 67, your final salary is $100,000, and you’ve accumulated 10 times that income in your combined retirement savings (i.e. $1 million).
It’s not reasonable to assume a $1 million portfolio will consistently generate 10% annual returns, fully replacing your $100,000 pre-retirement income.
Generally, you can plan on replacing 80% of your pre-retirement income. That means $80,000 per year of income in retirement. The reduction assumes you won’t have work-related expenses, like commuting, or making additional retirement contributions. It also assumes a lower annual tax bite. After all, once you retire, you’ll no longer be paying FICA taxes.
If you have a $1 million retirement portfolio, you can withdraw 4% per year without draining your portfolio to zero. This is what’s frequently referred to as the safe withdrawal rate.
Withdrawals of 4% will come to $40,000 on a $1 million portfolio. That will represent 50% of the $80,000 in needed retirement income.
Presumably, the rest will come from a combination of Social Security and any available pension income. You can use the Social Security Quick Calculator to determine what your benefits will be at retirement.
With your estimated Social Security benefits in mind, a retirement calculator can help you understand the remaining gap between your savings and how much you need for retirement.
For example, let’s say you’re 25-years-old, earning $50,000 annually, and your employer offers a 401(k) plan. For each of the remaining examples, we’ll assume your employer doesn’t match contributions, and assume a 7% annual rate of return on investments reflecting a mix of stocks and bonds in your plan.
If you want your 401(k) plan balance to match your salary by age 30, you’ll need to contribute
17% of your income — or about $8,500 per year — to your plan. With a 7% annual rate of return, that’ll give you a balance of $50,717.
If you expect to be earning $75,000 per year by the time you’re 35, you’ll need to have $150,000 in your plan by the time you reach that age.
Assuming your income averages $62,500 per year between the ages of 30 and 35, you’ll need to contribute 21% of your income, or $13,125 per year, to reach the $150,000 threshold in your plan.
Looking long-term, at retirement at age 67, let’s assume your income will grow to $100,000 between age 35 and 67. In this scenario, your average annual income is $87,500. Since you expect to earn $100,000 just before retiring, you should have $1 million sitting in your 401(k) plan.
What will it take to reach that goal?
Absolutely nothing!
One of the biggest and best secrets of retirement planning is the earlier in life you begin saving, the less you’ll need to save later on in life. And sometimes that’s nothing.
In this case, since you already have $150,000 in your plan at age 35, simply by investing the money at an average annual return of 7% for 32 years your plan will grow to $1.3 million. That’s without making even a single dollar of additional contribution.
And for what it’s worth, if you simply made the maximum 401(k) contribution of $19,500 each year between 35 and 67, your plan would have more than $3.4 million by the time you reach retirement.
The most fundamental rule of retirement savings planning is: save early and often!
If you’re 25 years old and you want to retire at 50, decide how much income you’ll need to live on by the time you reach 50. Since you won’t have the benefit of Social Security or a pension, you’ll rely entirely on your retirement savings.
Let’s say you’ll need $40,000 per year to live in retirement. In this case, you’ll need to have $1 million in your retirement portfolio based on the 4% safe withdrawal rate.
To get from $0 to $1 million in your retirement plan between 25 and 50, you’ll need to make the maximum 401(k) contribution allowed at $19,500 each year for 25 years. Assuming your investment produces a 7% return, you’ll have $1,181,209 by the time you reach 50. That’ll be a little bit higher than your $1 million retirement goal.
It’ll be difficult to carve out the full $19,500 on a $50,000 income you’re earning at age 25, but it gets easier as the years pass and your income increases. You might even decide to lower your contributions in your 20s, and work up to the maximum by the time you’re 30.
Just be aware that the foundational strategy of reaching early retirement is based on saving a seemingly ridiculous percentage of your income. Although others are saving 10% or maybe 15% of their income each year, you’ll need to think more in terms of 30%, 40%, or 50% savings. It all depends on how early you want to retire.
Unfortunately, this describes the majority of Americans. But it doesn’t need to be you, even if you’re not currently on track to retire.
Let’s say you’re 45 years old and earning $100,000, and you currently have $100,000 in total retirement savings. That means that at age 45 your retirement fund is where Fidelity recommends it should’ve been at age 30.
Don’t give up hope.
If you make the maximum contribution of $19,500 per year between ages 45 and 50, then increase it to the maximum of $26,000 per year from ages 50 to 65, you’ll have just over $1.3 million in your plan by the time you reach 65.
You won’t benefit from compound earnings that you would’ve seen had you started saving aggressively in your 20s, but your situation is far from hopeless.
The main takeaway is that you can get on track to retire at just about any age. But you have to be willing to commit to saving as much as you can and on a completely consistent basis.
