Opinion: The 4% rule for retirement spending is now the 4.7% rule

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In some areas of life, working backwards or reverse engineering the answer you’re looking for can help. Retirement savings might be one of those areas.

Here’s how to reverse engineer how much you’ll need to have for retirement and how much you’ll need to save to get there.

Step one: Start from the end or decide how much income you need — and…

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