Retirement Planning: How Much to Save?
When beginning to plan for retirement, often the first question people ask is: How much do I need to save?
Before this can really be answered, you'll need to do some thoughtful planning about the type of retirement you are envisioning; but, in general, you should expect to have saved enough to generate retirement income of anywhere from 70 percent to 120 percent of your current income.
Before your eyes pop out of their sockets, it's important to keep in mind that how much you need for your retirement savings really depends on your situation.
The second in the series of articles will provide you with some tools and tips for calculating your retirement savings number.
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