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Are you excited about the notion of retiring from Lockheed Martin and living out your financial dreams, but may be unsure about some retirement terms such as “wage replacement ratio?” In this post, we’ll define this term and discuss its importance.
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The idea of retiring can be both exciting and frightening. On one hand, you are ready to reap the benefits of your hard-earned investment growth, and on the other hand it can be daunting to determine how much of a retirement you can afford. A common phrase in the industry is “wage replacement ratio”. This ratio allows one to calculate what income is desirable upon retirement. For example, if you want to live off of 80 percent of your current income during retirement, 80 percent would be your wage replacement ratio.
| Current annual income | $100,000 |
| X Wage replacement ratio | 80% |
| = Retirement income desired | $80,000 |
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It is also important to note that some individuals may want to maintain the same lifestyle during retirement (wage replacement ratio of 100 percent) or even increase the desired retirement lifestyle (wage replacement ratio of greater than 100 percent). A general rule of thumb is to target for a wage replacement ratio between 70 percent to 80 percent since expenses tend to decrease in retirement. While this is an easy and quick calculation, there are many more variables that go into retirement planning, so please reserve a time slot with one of our Lockheed Martin Retirement Specialists to fully understand your personal retirement scenario.
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Be sure and check back next week for more incredibly valuable information. Cheers!
Financial Planning and Investment Advisory offered by SWMG, LLC a Registered Investment Advisor.
Lockheed Martin Retirement Specialist is not an official title or professional designation nor is it conferred by Lockheed Martin on any individual or company.
Our Complementary consultation and free report are for informational purposes only and provided free without any obligation to utilize or retain our investment advisory services.
SMWG, LLC is not affiliated with or endorsed by Lockheed Martin Corporation. Our expertise comes from working with LMT employees for several years and helping them to retire with confidence.
Investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. Investment products are not FDIC insured, have no bank guarantee, and may gain or lose value. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable for a client’s investment portfolio.
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