“Determining the amount you need to save for retirement is a daunting task. It’s impossible to predict future life events and associated expenses, so future retirees often rely on general expense or portfolio withdrawal “rules” to make educated guesses about their needs. However, the standard ways of computing expected retirement expenses may not reflect reality, and future retirees may be better served by taking another approach.”
“Far too many people make bad choices when it comes to retirement. It’s the equivalent of choosing candy bars over the solid meal…
“How can we make better decisions for retirement planning? One principle is the knowledge that increasing saving over time will build a bigger nest egg. Here are three key moves that can lead to a better outcome”:
In today’s society, with so many demands on our money, retiring is a challenge.
“With so many money distractions, having a system to get on track to retire earlier — and stay on track — can help. A weekly money meeting, an appointment you keep with yourself or your partner if you have one, can be a great start. ” Ask yourself these questions and more (10 total from Forbes):
What do I want to do in five or ten years that I need to start saving for now?
What is a major financial goal that I would like to accomplish within the year?
What steps do I need to take right now to reach that goal?