Below are some general guidelines and rules of thumb for retirement planning. While general guidelines can be useful, I recommend that you do the work to run retirement calculations with well thought figures that represent your unique situation. This should be revisited on an annual basis to be sure you are on track. Guidelines and rules of thumb can be misleading and may not fit every situation.
- Always save between 10% and 15% of your annual income. If you are starting late this needs to be much higher.
- Spend 60-80% of your pre-retirement expenses in retirement. However,