How much income do people need to stash in their 401(k)s to assure a successful retirement?
The nonprofit Employee Benefits Retirement Institute has come upwith some new figures based on its Retirement Security ProjectionModel, which, it says, goes further than merely rely on replacing apercentage of income to pinpoint savings goals.
RSPM modeling accounts for longevity, postretirement investmentrisk, and nursing home costs, items and factors most otherequations don’t consider, according to Jack VanDerhei, EBRI’sresearch director.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
