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How Much Money Will I Need to Retire?
It’s not a simple question to answer. Different people will need different amounts, depending on the income they have and what their plans are after they stop working. The best scenario is that at retirement, one should not have a mortgage or any debt that is not tax deductible. At that point, you should have defined goals, a budget, little or no debt, and income-earning investments. At that point, calculate the money you need to live on and the source of those funds.
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