How much money should you have left when you die? Likely less than you think
How much money should you have left when you die? While not the most appealing topic to consider, it’s a vital aspect of a retirement plan, along with how much to save prior to retirement and how much to budget once you’ve stopped working. “It’s really important because people don’t know how much money they can spend,” said Fred Vettese, author of Retirement Income for Life, and a partner at Morneau Shepell Inc. in Toronto. “No one really knows. Some people might say, ‘Oh, I’ll spend four per cent of my money on an annual basis.’ Others might say they’ll spend interest only. Most of those are pretty cautious ways of doing it.”
Read more on the Financial Post.