Notes: Assumes 35-year retirement beginning at age 60 with 80% of pre-retirement income; Social Security starts at 62; 4% annual real rate of return; initial withdrawal of 4%, adjusted annually for inflation; pension equals 25% of pre-retirement income; part-time work for 10 years at 25% of pre-retirement pay.
Source: Charles Farrell, registered representative, Commonwealth Financial Network, member NASD/SIPC.