Retirement planning is a complicated process.
There are a lot of variables that go into it. But in the end, all of the planning is really just trying to answer “exactly how much do I need to save?” And while there are no hard and fast rules for retirement saving – as everyone’s situation is different – there are a few milestone ideas that investors should at least consider when trying to find their number.
For retirees, finding how much is enough is important, and it’s not impossible to calculate.
Little to No Savings
When you’re traveling someplace new, odds are, you don’t just drive blindly and take whatever road you choose. To get from Point A to Point B, you follow a particular set of directions to get to your end destination. However, when it comes to retirement planning, it seems that most people have no idea of their destination, let alone the directions on how to get there.