Determining how much income a client needs in retirement is a critical step in building a retirement income plan. However, because of the data gathering that is required, this step can sometimes derail the plan. It would be helpful if the process of coming to a reasonable determination of retirement expenses could be done with the client in the office in 10 minutes – and that the number can be on point, and maybe more important – a number the client could live with.
In a video interview called “Calculating How Much Income You Need for Retirement” with Curtis Cloke, CLTC, LUTCF, RICP®, Principal of Acuity Financial and Thrive University, and a regular contributor to the RICP® curriculum, we discuss this issue.
Read more about the video on The American College’s blog.