Laura Adams, MBA
Saving for retirement is the granddaddy of all financial goals–but how much do you really need? Find out where retirement income comes from and easy ways to figure the amount of savings and income you’ll need to enjoy a comfortable retirement.
Saving for retirement is what I consider the granddaddy of all financial goals because it typically requires a huge nest egg. But planning how much you really need to save in order to have enough to retire is more like an art than a science.
I think about retirement as a big party you’re planning when you don’t know exactly when or where it will be, how many people will show up, or how long it will last. There are many variables, which means there isn’t a one-size-fits-all answer for how much you should have.
Despite how confusing retirement planning may seem, I’ll make it simple by explaining where retirement income comes from and how much money you’ll need.