RETIREMENT: HOW MUCH SHOULD I BE SAVING FOR RETIREMENT?

A question we get asked frequently, is how much should I be saving for my retirement? It is a simple question with no simple answer. Every person and family is unique and it is important that a financial plan is customized to your goals and life aspirations. There are a number of questions to consider outside of the simple calculations entered into most of the retirement calculators out there. Financial calculators are simple to use free tools that can give you a basic understanding of where you are today, and what it might take to get to where you want to be. Below are a few of our thoughts on these online tools.

The Good

  • They are simple and free to use!
  • They are easy to find on the internet and t
  • They are free to use

The Not So Good

  • They are often too simple to handle your family and tax situation
  • You can’t fluctuate your income levels throughout retirement. Do you want to travel for a few years or every year? Will you spend less as you age? What about Assisted living expenses if required?
  • They generally do not incorporate an estate plan. Do you want to leave money for your children or Charity? Is that an inflation-protected amount?
  • They are only as good as the assumptions you make and the assumptions actually built into the calculator

We fully embrace the use of online tools, and we believe that it is important for you to be educated about wealth and planning.

We believe that it is also important to complete a thorough analysis of your family situation today and where you want to be in the future.

You are unique, your family situation is unique, your goals are unique, ensure that your financial projections are just as unique as you are!

We can help!

Contact us today

Retirement Savings Calculator

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