What is a Good Monthly Retirement Income?

According to the Bureau of Labor Statistics, the average annual expenses for people 65 plus in 2021 was about $52,141.00, which works out to about $4,345 a month.

But as Dustin with Mundorf  Wealth Management explains to Erin Kennedy, no two people are alike, so figuring out how much money YOU will need depends on your lifestyle and your unique retirement goals. To determine what you'll need for a comfortable, monthly retirement income, first walk through these prompts:

1. Picture your ideal retirement
2. Create a spending plan
3. Consider common risk factors
4. Build a robust nest egg
5. Create a legacy plan

If you'd like to speak with Dustin to build a personalized retirement plan that addresses your unique goals, please text or call the number on the website, or book a free chat by visiting www.LongLiveMyMoney.com

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