How much money will I need?

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Take a look at income:

Social Security, pension, investments and other assets.  Let’s face it, 401(k) plans have lost 30% of their value in the past few years and our C.D. and money market fund yields are slim.  How much equity is in your home or condo and could you retrieve some or all of it if you wanted to?
Factor in your age, health, current life style and expectations.

• Do you want to continue to work?
• How much can you save?
• Have you revisited your health insurance, car and home owners insurance, cable and phone bills, restaurants, vacations, credit card debt?
• During the good times, most of us paid no attention to this and are currently paying for bell and whistle add ons we never ordered and don’t know we have.  Has your local government adjusted your property tax based on universally declining home values?
• Come to grips with your balance sheet.  Income – liabilities = what you have and, depending on your personal expectations, may be all you need.