A Personal Finance Guide

How Much Do I Need to Retire? The Truth Revealed

That is the ultimate question that you need to answer when you are planning for retirement.

There are two ways to look at this question – (1) how much do I need to save now for retirement? Or (2) how much will I need to live off of when I retire? This article will focus on the first question – how much do I need to save now for retirement?

There are several factors involved in determining how much you need to save for retirement.�Some of the factors to consider are:

�������� Expected Monthly Expenses

�������� Desired Standard of Living

�������� Your Life Expectancy

�������� Amount of Money You Want to Be Able To Bequeath To Loved Ones

Once you figure out how much money you think you need to retire, you need to figure out how much you need to save now in order to have enough money to retire.�Here is a simple formula to help you determine how much money you will have saved at retirement:

How Much Money I Will Have Saved At Retirement = (Principle Amount Saved) (Rate of Capital Growth) (Amount of Time Before Retirement)

The goal is to accurately predict how much money you need to retire and then develop a retirement plan that will provide you with enough money in savings when retirement comes.� Once you know how much money you will need when retirement comes, then you can worry about finding the investments with the highest rate of return to help you meet your retirement goals.

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