If your household earns over $30,000 per year, you are going to need more than social security to keep up your lifestyle in retirement. This is why many financial advisors recommend saving enough to replace 80% or more of your pre-retirement income.
When it comes to retirement planning, most people think a one-size investment strategy fits all. Here are three reasons why retirement planning does—and should—work differently for different people.
Retirement Looks Different For Different People
- How much time do you have to save before retirement?
- What do you plan to do while you’re retired?
- Where do you want to live in retirement?
- Where will your income come from in retirement?