How To Earn $50K A Year In Interest For Retirement-CNBC MAKE IT

Check out this informal video from the good folks at CNBC!  How to earn $50K A Year in Interest for Retirement.

“An “interest-only” retirement plan can fund your retirement without draining your savings, but you will need to save a lot of money to make it possible. NerdWallet crunched the numbers, and we can tell you how much you need to save every month, broken down by age, to get $50,000 every year in an “interest-only” retirement.”

“Check out this video to learn how much you will need, in order to make it a reality. Retirement usually involves giving up your annual salary, but you will still need an income to survive. While Social Security will cover a part of your budget, the rest of your money will most likely need to come from your savings and investments. The median baby boomer’s 401(k) plan has a total balance of $69,900, according to Fidelity. Assuming they withdraw 3% of their savings per year, they would be left with a total of less than $2,100 to spend. If you want bigger drawdowns, you’ll need to save up a much larger nest egg before you retire.”

 

 

NerdWallet crunched the numbers, and we can tell you how much you need to save now to get $50,000 every year in retirement, without taking a bite out of your principal. First, some ground rules. The numbers assume you will retire at 65 and have no money in savings now.

For investing, we assume an annual 6% return when you are saving and a more conservative 3% rate for your “interest-only” retirement. We do not factor in inflation, taxes, or any additional income you may get from Social Security.

. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf

About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money.

Connect with CNBC Make It. Online Get the latest updates: https://www.cnbc.com/make-it Find CNBC Make It. on Facebook: https://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: https://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: https://bit.ly/InstagramCNBCMakeIt #CNBC #CNBCMakeIt

IAHHM

Subscribe to us for exclusive updates on music, movies, tv shows, and Hip Hop News.

Shop at our Affiliate Flea Market curating the best selections from the best companies worldwide.

Join Our Discount Shopping Group “Gualla Deals” on Facebook!

Watch Free Movies, Tv-Shows, and more!

Check out music from Independent Artists on IAMHIPHOPMAG.

Music From all your favorite artists such as J. Cole, Kendrick LamarDrake, Jay-ZBiggie, and whoever else you need.
Watch Cartoons such as Rocket Power, As Told By Ginger, Doug, Recess, and more!

AFFILIATES.

Exclusive Deals From Walmart!

EARN FREE STOCK WITH ROBINHOOD.

Take 7% Off Your Distrokid Account

30 Days Free Of Amazon Prime

Looking For Music Promotion Services? Check out our services page here. 

Follow and Stream Belief On Spotify 

*NOTE: Some Episodes may be in the wrong order, and movies may be broken up into parts and MAY CONTAIN ADS. PLEASE SKIP ADS! IAMHIPHOPMAG is simply just putting all your favorite shows in one place.

*DISCLAIMER: Please note these episodes are FREE via the Internet. IAMHIPHOPMAG is not responsible for and does not OWN THIS CONTENT. IAMHIPHOPMAG PROVIDES LINKS FROM VARIOUS FREE ONLINE SOURCES. WE DO NOT UPLOAD, DOWNLOAD ANY CONTENT VIEWABLE OR HOSTS ON OUR SERVERS.

*We May Earn Commissions from Qualifying Purchases.

 

 

Leave a Reply