Ten Commandments of Retirement

So I got through the “Ten Commandments of Investing”.

Next week, it’s Retirement. Any suggestions are welcome, because I really have no idea how to go about this one.

Anybody know a good, dummy-proof website that shows TVM calculations? Like “if you want to spend $X per year in retirement and you have $X in savings and X years until retirement, you need to save $X amount per month”? And all the derivations thereof?

My B-D provides software that I can use, and I’ll use it for people who are actually interested in implementing with me, but I still need to give people some food for thought.

I thought there was only one commandment on that:


Is this really different from the “Investing” series? To me, Investing is the means for Retiring. Either way, the strategy at this life stage is the same (accumulate as much wealth as possible given risk constraints).

I suppose if retirement was imminent, I would care a lot about budgeting and hedging actuarial risk (through annuities or such).

Probably some stats on what retirees end up spending on different categories and at what stages of things is useful - travel, medical, long-term care, estate planning. What percentage of people outlive their assets and after how long.

All of that info is useful for targeting how much you need at a minimum to retire, and it informs your required returns given current assets and savings expectations

If you are wealthy enough, you might want to plan your investment time horizon to match your children’s retirement rather than your own, but this is only if you are wealthy enough that the risk of outliving your assets is small. (Or if you have recently married a spouse that is significantly younger than you).

Some retirement research from the friendly folks at the Society of Actuaries: