5 Ways To estimate your retirement income needs
<p>Estimating your retirement income needs is an important step in planning for a comfortable retirement. Here are some steps you can take to estimate your retirement income needs:</p>
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<li><strong>Determine your retirement expenses</strong>: Start by calculating your current living expenses and make adjustments for your expected lifestyle in retirement. Consider your anticipated expenses for housing, healthcare, transportation, taxes, insurance, and other basic living expenses. Also, consider any discretionary expenses such as travel, hobbies, or other activities that you plan to pursue in retirement.</li>
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