The Unofficial Guide to Real Estate Investing by Spencer Strauss and Martin Stone_2 pdf

* ( $7 ( ; ( & 7$7 ,  FIGURE 2.3 5(7,5(0(17 ,1&20( :25.6+((7 Annual Income Goal (100% of your current income) $ _ Estimated Social Security Benefits $ _ Estimated Pension Benefits $ _ Retirement Income Gap (subtract lines and from line 1) $ _ Lump Sum Needed (divide amount on line by 03) $ _ Current Retirement Assets (IRA, 401(k), and other sources) $ _ Total Lump-Sum Gap (subtract line from line 5) $ _ To use the table, find your earnings level on the left, and the chart will give you an idea on the right of your expected benefits As we mentioned earlier, this exercise is overly simplified to provide a basic understanding of what kind of retirement nest egg you are going to need By relating the monthly income needed to a lump sum, we hope to help you visualize the task that lies ahead Many of you will have various types of assets that will provide you with a retirement income Assets are great, but when you are retired and not bringing in a paycheck, all that really counts is the monthly income those assets may or may not generate As mentioned earlier, if you have a lot of equity in your home and a valuable art collection you would rather not sell, neither can be used in calculating your lump-sum gap In reality, these kinds of assets usually just increase the gap  ( & (