Retirement is not something few people put much thought and effort into. They think Social Security benefits and employer funded retirement plans will just fall into place. This belief can result in a rude awakening when 65 rolls around, and it can be shocking to people when they realize it.
You need to figure out what exactly you think your retirement will cost you. Most Americans need roughly 75 percent of the regular income they earn to live comfortably in retirement. People who already receive a low income may need around 90%.
Figure what your retirement needs and costs will be. It will cost you approximately three-quarters of their current income to enjoy a comfortable retirement. Workers in the lower income range … Read the rest