Tuesday, 20 April 2010 14:36
That depends on how much you have saved and how you expect to live in retirement. Living a carefree life of travel requires a different amount of savings than a life of simple existence with part-time income. The answer to your question might then be found in how much you plan to save. That often leads to the question of how much should I save. The answer to the amount to save depends upon how you want to live in retirement. As you can see, this can become a circular discussion. That’s why having an advisor to help you figure out these basic questions can be invaluable to living the retirement you always wanted. Check out some of our resources in the life kit section and the many calculators we have available to help you start thinking about these topics. Whether you are in retirement or 30 years from retirement, having a realistic retirement budget is another crucial step in helping you decide how much to save and what type of retirement you will be able to afford. Most importantly, regardless of the number of years until retirement, it is never too late to take control and start developing a plan. That will be the only way you will know if you can live the retirement life you have always wanted.