“The Number”

ST. CROIX INSIGHTS

 

“The Number”

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

“THE NUMBER” What is it? What does it mean? Is it easy to find? Does it change?

Some call it their “walk away number” while others more boldly call it their “!@%& you number”.  Whatever you want to call it is up to you, but the concept stays the same.  How much do money do you need to live comfortably for the rest of your life (a.k.a. retirement) and how do you get there? 

 

Some people calculate their own “number.” Others seek advice from a professional to utilize every strategy to get there (which we strongly advise). However you do it, it involves time and effort on your part. If you’re married, you will also need your spouse’s participation. Your number will carry you and your spouse for the rest of your lives. When you find “the number,” everything else falls into place. Please note, as you work your way up to your retirement years, re-visiting “the number” is strongly advised. With so many variables and life-changing events, you might laugh at the number you thought was sufficient 10 years ago and raise eyebrows at the number you propose 20 years from now.

 

Your Tax Number

For a more in-depth look, pick up the book The Number- What Do You Need for the Rest of Your Life, and What Will it Cost by Lee Eisenberg. In this book, you’ll find a key of answers to all the questions you should be asking yourself and your spouse about the rest of your lives.

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Ask yourself- can my portfolio support my lifestyle in my retirement? 

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