It is important to know how much you should be saving. Every year you delay adequately funding your retirement cuts in half your retirement standard of living.
Imagine Fred and Wilma, now in their forties, with savings of $250,000 and an income of $55,000. They project that putting $1,036 a month into savings this year will meet their goal of retiring at 65. But that projection is only good for the coming year.
Projections are like blinking your eyes open as you are walking quickly. They give you a quick snapshot of where you are and what direction you …Read More