University of Illinois Extension

How much money will I need for retirement?

Steps in retirement planning

Identify and set goals

Determine your net worth

How will my spending plan change in retirement?

How long will you live?

Anticipating your needs

Estimating retirement income

Social Security

Pensions

Savings and investments

Apply what you have learned

Matching income to out-go

Inflation, the hidden enemy

Retirement planning financial security tips

Computer programs to the rescue

For further reading/ References

 

 

You will feel a sense of control over the retirement process, if you follow these financial planning steps:

  • Identify and set pre-retirement and retirement goals.

  • Estimate the length of your retirement.

  • Determine your net worth.

  • Estimate retirement expenses.

  • Estimate retirement income.

  • Balance expenses and income.

  • Plan for the effects of inflation.

  • Evaluate and revise your plan.

 

 

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