Want a Happy Retirement? Don't Just Guess About What You'll Need
Chuck Saletta (DailyFinance, May 13, 2013)
"In
its research, EBRI found that people who either used online
retirement calculators or who worked with financial advisers were far more
prepared to have a successful retirement than those who didn't. On the flip
side, those who relied primarily on guessing at how much they'd need to cover
their expenses wound up far worse prepared for their retirement than the typical
person."
Not sure that the EBRI research actually measured happiness, but the
conclusions in this article are 100% consistent with the themes expressed in
this website--In these days when individuals are much more responsible for their
own retirement, you need to do the retirement math--you need to crunch your
numbers based on your financial situation. And how much you can spend in
retirement is just the other side of the retirement planning coin of
how much you need to save to replace your pre-retirement standard of living.