20 Times Annual Income Is Retirement Corpus

Important Number – 20

If you dream of a happy retirement with no financial worries, then start adding more funds in your retirement corpus. As per financial experts, you will require 20 times of your annual income to replace nearly 80 percent of the pre-retirement income and maintain the same the standard to living as you enjoy at the present.

Your Money's Future Buying Power

Important Number – 70

The rule of 70 is a crucial one to evaluate your money’s future buying power. Divide 70 by the current inflation rate to calculate the time span during which the value of your investment will be reduced to half its present value. For example, an inflation rate of 7 percent will cut down the value of your money to half in 10 years.

Credit Score

Important Number – 700

What’s your credit score? Your credit score is very important, as it will be used by lending institutions to determine your eligibility for loans. A credit score of 700-750 on a scale of 900 is considered good, while that ranging from 751-900 is excellent.

In order to achieve a high credit score, you should make timely payments and avoid having overdue amount in any of the loan accounts, and there shouldn’t be any default or settlement in the closed accounts.

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