Ask An Expert

Ask an Expert –How Much Money Do I Need to Retire?

Jason Conger Financial Advisor

Answered By
Sibyl Slade – Financial Advisor – sibyl@lifeplanfin.com

Question

How much money do I need to retire?

Answer

The rule of thumb says 10 x your annual income in retirement savings. Many people are far from that number. And the reality is we all are living longer and we’re expected to live 30 or more years in retirement. With that being said, we really need to focus on how much income you will need in retirement and how can we insure that you have the income you need for life. Retirement savings is only one piece of the puzzle. We have so much more to consider.

The reality is we are living longer and were expected to live 30 or more years in retirement. 

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