Financial Expert on the Key to Comfortable Retirement
Are you financially prepared for your retirement years? How much money do you need to save to live comfortably? Is the baby boomer generation ready for what's ahead? We talk with a financial planner
Tom Fudge: Retirement. It's an interesting concept, and one that's become much more complex in recent years. Call it the great American health boom. People are living for such a long time that they often retire with 30 more years of life ahead of them. The days of working until you dropped dead seem to be over, for most Americans.
Having so many years of leisure to anticipate is cause for happy expectation, but also for anxiety. The anxiety boils down to a simple question: Am I going to outlive my savings? How much do you have to put aside to be assured your money will last until the day you die?
- Bill Bengen , president of Bengen Financial Services in El Cajon.