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| Do I have enough to retire? |
| Is your nest egg large enough to last you through the next couple of decades? Before you tell the boss you're ready for your gold watch, there are two basic questions you should ask yourself. |
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| First, what sort of retirement lifestyle do you want to lead? Do you want to spend your days vacationing in Paris or tending your garden? Second, how long do you expect to live? Remember, we're living a lot longer these days: Most of us can expect to live off our retirement savings for 25 to 35 years. |
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| The more your investments earn, the longer they'll last (or the more you can spend). |
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| Just as with your regular work salary, taxes will take a chunk out of this retirement salary. Finally, you should add any amount you'll be getting from Social Security--probably $10,000- to $15,000--to the final figure. |
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| If you're not going to have as much as you hoped, consider putting off retirement for a year or two. Not only will your money have more time to grow, but your time frame (with all due respect) will be shorter. Working part-time after you retire is another way to help your portfolio last longer, and may even let you retire from full-time work a little earlier. |
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