What is Your Retirement Number?

At some point, everyone needs to determine their “retirement number.” The sooner you determine that number, the more likely you are to get there. If you aren’t planning soon enough, you may run out of time and that means you’ll also run out of money. Here are four ways to determine the number:

  1. Super simple: Save 15% of your income.
  2. Fairly simple: save $1 million.
  3. A bit more complex: Aim for 80% of your current income in retirement.
  4. Most complex: Calculate retirement expenses to determine income requirements

The best way to be successful is to pick the one you are most likely to follow.

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Credit to USA Today, The Motley Fool
Simple to complex: 4 ways to find your retirement number
Wendy Connick, The Motley Fool, Aug. 28, 2017