Retirement is a daunting task but it doesn’t have to be. “If you aim for nothing, you will hit it everytime” – Zip Ziglar. Random quote because it sounds cool. To begin with, there isn’t a right or wrong way to plan for your parents’ retirement; I am merely sharing my approach since I’m super nerdy and like to look at the stats and odds. Since this is Part 2, I suggest that you read Part 1: the Background and hit it with a like since I think it’s an awesome read that breaks out the positives and negatives of retiring in Haiti. Additionally, I also drafted an aux reference guide (checklist) for millennials who…

Oooh Stats Based on the Bureau of Labor Statistics, as of 2018, the average American household (those north of 65 years old) pulled in $48,000 of retirement income and expensed $46,000.  All things considered, that’s not half bad if you are average, you are likely breaking even. The average retirement savings portfolio holds $100,000 (rounded up from $95,000). Under further scrutiny (nerdy words), those households owe at least $66,000 in debt. The majority of that debt falls under their primary mortgage with $9,000 on revolving credit card debt. The Dilemma: 4% Rule for Withdrawing in Retirement Per Investopedia, the 4% rule is a rule of thumb used to determine how much a retiree should withdraw from a…