How Much Should I Plan For Retirement?

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May 26, 2013

David Racich

You should plan greatly for retirement based on new mortality projections, inflation erosion and products that generate returns based on your financial profile and risk tolerance. If your tax bracket is high, you should consider qualified plans, especially if your employer matches any portion of your contributions. If your tax bracket is low and there’s no employer match, then you may want to look at non-qualified options that generally less restrictive and may have more liquidity.
May 26, 2013

Ted Ratliff

Only you can answer that question. Figure your fixed costs after retirement, your plans (do you plan to travel?), and other individual factors. Also deduct out social security if you want to figure out how much additional savings you need to meet your goal. My opinion is at least 80% of current income on average but that is not written in stone, every case is different. Sit down with a good agent familiar with retirement planning. He or she can help you put together a good plan for a comfortable retirement.

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