Retirement Planning Spring 2022
The answers to 4 key retirement planning questions
1. How much should I save each year for retirement? Aim to save at least 15% of your income annually—start as soon as you can.
2. How much do I need to save for retirement? Save 10x your income by age 67.
3. What will my savings cover in retirement? Plan for your savings to provide 45% of your pretax, preretirement income.
4. How can I make my retirement savings last? Withdraw no more than 4% to 5% from savings yearly, with adjustments for inflation.
Contact Aspetuck Financial Management if you would like to discuss your retirement planning. We can review a checklist of items you must address in order to retire on time and once.