How much do you need to save for retirement? That’s the big question that everyone asks when saving up for the later years of their life. It’s of course difficult to determine because you can’t predict the future, but there are a few steps you can take to start saving for retirement now. In this video, we’ll cover a few ways to calculate how much you need to save for retirement based on your personal income.
We’ll guide you through the essential steps to accurately calculate how much you need to save for this important stage in your life. This includes the formula for calculating retirement savings, contributions to your 401K, Social Security benefits and defining aged based retirement savings. We’ll also explain the difference between setting savings goals and savings milestones.
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