You have made it to retirement, or perhaps you are just counting down the days until you retire. You have got money put away, but need to know how long it will last. There are key factors that will determine that, including your monthly spending and other sources of income. The rate of return on your outstanding savings balance, the taxes you pay on withdrawals and the impact inflation has on your required monthly spending will all have a significant impact as well.
How much should you save for retirement?
Exactly how much should you be saving for retirement? It depends. But these resources can help you start to figure it out.
How to ‘trick’ yourself into saving more
Researchers might have the answer to helping you save more. Hint: It has to do with thinking small. Here’s how to get started.