The most important step is setting up a retirement budget. It should have monthly bills, retirement income (401k, pension, social security, etc), etc. That is a good starting point. Look at what is currently saved for retirement, what are you saving per month for retirement, what is your projection for those investments.... There are plenty of retirement calculators out there on the internet.
Always mind boggling how Americans think they need millions and millions to retire yet the median saved for those in retirement age is well under even "just" $200k!
When you read the majority of retirement articles, they fraudulently tell us we need millions to retire. People are discouraged by this, so they barely try. Thus, the low"ish" savings rates.
The most important step is setting up a retirement budget. It should have monthly bills, retirement income (401k, pension, social security, etc), etc. That is a good starting point. Look at what is currently saved for retirement, what are you saving per month for retirement, what is your projection for those investments.... There are plenty of retirement calculators out there on the internet.
Don't forget to budget for taxes too!
Always mind boggling how Americans think they need millions and millions to retire yet the median saved for those in retirement age is well under even "just" $200k!
The problem is that most people procrastinate and don't have a plan. That's a deadly combination.
When you read the majority of retirement articles, they fraudulently tell us we need millions to retire. People are discouraged by this, so they barely try. Thus, the low"ish" savings rates.
All it takes is a little a month to give yourself a chance to retire with dignity.
my number is ''enuf''
will never go over ''enuf''