With life expectancies increasing and the social security coffers dwindling the need to accumulate money for retirement is becoming more and more important. Proper planning will allow you to make the adjustments necessary to give you a comfortable retirement.
PERFORM A REALITY CHECK. Decide what lifestyle you will accept during retirement; most individuals plan on having about 75% of current living expenses. Next compute the savings required to match your needs. Prepare for a shock; available resources rarely meet needs. To bridge the gap, you'll need to increase savings, invest for higher returns, or plan for a simpler retirement. Visit our Planning for Retirement section for added information and calculators to assist you in your retirement planning.
