Retirement planners focus on a persons gross income as the money needed for retirement. Why?
I do not receive my gross income. I receive my net income. I currently earn $40,000 Gross . After medical, hsa, and 401K I receive around $28,000 Net.
I live on $28,000 not $40,000.
A competent planner will be considering the impact of taxes on your retirement income. To do so, we have to start with gross income and look for ways to lower/minimize the income tax burden. | 09.19.14 @ 22:40
Kim gave you the Planner answer. To confront your concerns directly, as an Investment Manager (IM), let's dig deeper into this.
Gross. Net.. Average. CAGR. Etc. The terminology can be intimidating. Our focus is to keep things simple. Therefore, I am more concerned with getting folks where they need to be financially and keeping them there. We let our customers give us their number. Then, we dig into how to achieve it.
It's not what you make, It's what you keep that determines your lifestyle.
Feel free to contact us directly for more information or just to get direct answers.
| 05.04.16 @ 23:33