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Reply to "50 year olds - how much retirement $ do you have saved?"
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[quote=Anonymous][quote=Anonymous]How do you factor in a pension? I expect to receive something like $3K a month. How do you value that in your total retirement? [/quote] Typical plan for drawing down savings in retirement is to withdraw 4 percent per year. So take what you expect your pension to pay you annually and divide that by .04. That will give you the lump sum of how much your pension is “worth”, i.e., the amount of savings that it would take to produce that income stream.[/quote]
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