Caroline, ARA, Smartvestor discussed on Dave Ramsey
I q. but all you have to do is plug in a few data points how much you wanna live on per month and how many years you plan to. Retire and how much you have saved up so Caroline, has, walked through this and. Now she's saying okay I've got some questions I want to go deeper into this because. That's what the tool was designed to do help people raise, their awareness to see it and understand it but then move forward by connecting with. The. Smartvestor Pro which is doing in the morning. I would say there's a couple of things there. Carolyn remember the ARA, tool so you're able to plug in some things and tweak things as. You want so at the bottom of their I would take a look at the withdrawal rate the rate of growth all those things that you've plugged in as well but let's start back at the. Top of this if you've gotten yourself debt free and, that's, what I want everyone. To do before you retire is get everything paid off and I'm talking about including the. House now you start to identify how much am I going, to need to live on you think about that Why would you need ten thousand per month now you may want to travel, a lot or some things that you want to, accomplish that's okay but I think that's the thing that you're looking at there's a phrase out there. That you don't want to steal or you don't want to kill the golden goose that means you don't wanna pull so much out that the money that you have that's growing you actually stop it from growing. As much so walking through this process with the Smartvestor pro you'll be able to dive in and see I would encourage you to go back through, as I said look at the. Data sets that you have it our accu- what do, you have it set, toward and then look at how much throwing but I take it a step. Further and say make sure you, include your husband's pension when it asks you how much you have saved, toward retirement you only use all the money you. Have saved up and so you can find out the present value of the pension, as it stands right now and just a lump that into how much you have save so at that along with your 401K. And now you start to get a true life indication of what you all have saved? Up for retirement And I hope that helps because walking through this process again of helping people raise awareness and. Allows them to feel more confident because if I know that I what I need to start putting away each month I can start doing it The beauty of the ARA q. is that it shows you that. Number but it takes it a step further chose you your big number but it takes it a step further, if, you are behind from saving, for retirement,.