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How Much Money Do You Need to Retire? – Daily Flash Briefing

July 14, 2021 by Bautis Financial
How Much Do You Have Saved for Retirement?

To determine the answer to this popular question, first ask yourself these three questions.

To determine the answer, first ask yourself these three questions:

  1. How young do you want to be when you retire?
  2. Do you plan to maintain your existing lifestyle with a similar monthly budget?
  3. Do you plan on traveling or changing your state of residence?

If you plan on maintaining your existing lifestyle, and retire at age 67, a good rule of thumb is to have saved 10 times your annual income by the time you retire. The amount you need can be adjusted based on your retirement goals and savings plan.

The best thing you can do is start saving when you’re young, and let your investments grow over a longer period of time.

If you need help with the specifics, set up a complimentary consultation with our advisors.

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Category: Finance News, Retirement PlanningTag: retirement, Retirement Money Saving Tips, Retirement Planning, Retirement Tips, Saving for Retirement, Saving Tips
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