Tips on Figuring Out How Much To Save To Retire

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Tips on Figuring Out How Much To Save To Retire

Sometimes, trying to understand how much to save to retire can be stressful or confusing. In this day and age, the security of old-age pensions are also up in the air. People worry about having enough money to live comfortably in the latter years. Luckily, there are some useful ways to calculate how much money is needed for retirement. It’s estimated that most people who are retired will need about 50 to 70 percent of their normal (non-retired) income. Your lifestyle will also dictate how much money you need – do you own real estate, or rent? Will you need to pay a lot of monthly bills and medical expenses? Everyone is different, and you must analyze your own retirement goals and current lifestyle to arrive at the right number for you. Use to 50 to 70 percent guideline as a starting point.

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