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Retirement Income

Fig 1: Expected years of retirement
If you reture at... Women Men
50 31 27
55 27 23
60 23 19
65 18 15
70 15 12
75 11 6
80 9 7
85 6 5

The financial resources that you may need should be planned appropriately as the duration of the retirement phase, of your life could last for as long as 2 to 3 decades.

On average you can expect this many years of retirement, as shown in Figure 1.

Pension planning

A major problem in pension planning is that the economy is likely to be very different, but to begin with, the income that you may need should be based on today's prices.

There will be a significant difference between your present income needs and your income needs when you retire.

This is because you will not have mortgage or work related expenses, but may have health related expenses.

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