Will Your Retirement Savings Actually Last?

Your savings balance doesn't tell you whether you can retire. Your income gap does. Retirement Income Planner → https://billefinance.com Most retirement advice gives you one number to chase. But a balance sitting in an account doesn't pay your electric bill — income does. This video walks the whole ladder, from $0 to $2.4 million, and prices the same six things at every level: your Social Security check, what you actually need each month, the gap between them, the savings that gap demands, how many years your money lasts, and what a 2008 does to it. It also shows what each level costs per month if you start at 32. CHAPTERS 0:00 Your balance isn't the number that matters 1:15 Rung 1: $0 saved 3:12 Rung 2: $27,000 ($14/month from 32) 5:12 Rung 3: $89,000 ($46/month) 7:09 Rung 4: $215,000 ($111/month) 9:25 The one number I can't give you 10:33 Rung 5: $480,000 ($248/month) 12:20 Rung 6: $1.1 million ($569/month) 14:10 Rung 7: $2.4 million ($1,241/month) 16:10 What actually separated the rungs THE MATH, IF YOU WANT TO RUN IT YOURSELF 1. What you need each month 2. Minus what reliably arrives (Social Security, pension) 3. = your income gap Multiply by 12, divide by 0.04 — that's roughly what you need saved. SOURCES S&P 500 2008 return: S&P Dow Jones Indices 4% rule and sequence-of-returns risk: Bengen (1994), Trinity Study updates Long-term care costs: Genworth Cost of Care Survey Lifetime retiree healthcare estimate: Fidelity Life expectancy at 65: SSA period life tables Social Security figures: ssa.gov — check your own statement, not an average: https://www.ssa.gov/myaccount/ Illustrative figures. Educational only, not financial advice. #retirement #personalfinance #investing