How Much do I Need to Save for Retirement?
This is a Retirement Planning video that goes along with my complete article on Retirement Planing and How Much to Save for Retirement at http://businesstowealth.ca/retirement-plans-how-much-to-save-for-retirement/. Business to Wealth is my blog to help Business Owners turn their enterprise into the lifestyle they are striving for, both before and after retirement.
This article will look at your retirement plans in order to answer the question, how much to save for retirement? There are several different ways to calculate this number, and of course the value will vary from person to person depending on their circumstances. But, to give you a ballpark number, for most retirees if you have around $500,000 at age 65, and have a home paid for and no debt, you should be able to have a comfortable if modest retirement, and you will be much better off than the majority of other retired people. If you want an above average or deluxe retirement you will need more savings.