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If I retire today and don't begin to use my retirement savings as income until one year from today, there are several variables that should be taken into consideration. I would weigh the specific variables of my retirement plan to determine contribution limits and restrictions against current savings.
Planning for retirement by an individual involves a calculation of the amount that should be saved for a given period The individual will evaluate the effectiveness of his or her savings by paring it with the amount he or she is set to receive during his retirement period (Slott, ****) However, there are various variables that determine the amount of income that can be taken from his or her savings annually until his death.
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