Retirement planning is something most of us need to worry about. The earlier we start planning, the better the outcome is, with more options available. Individual circumstances will differ, but there are some general rules you should follow in order to retire comfortably. Try to put as much as 15% of your income aside and plan on needing 80% of your regular income in retirement. Plan on additional costs in retirement and do not underestimate your life expectancy. The last thing you want is to run out of money in your advanced age.
Key Takeaways:
- Saving for retirement simply means that you are saving for a time when you are ready to stop working.
- Many experts say that you should put fifteen percent of your income towards retirement.
- You will want to save enough to cover about eighty percent of your retirement.
“Even if you love your career, you probably don’t want to do it for the rest of your life. “Saving for retirement” simply means being prepared for the day when you’re ready to stop working.”
Read more: https://www.acorns.com/money-basics/retirement/how-much-do-i-need-to-save-for-retirement/
Leave a Reply