Every Dollar Matters

Retirement Planning

Retirement planning is important whether you are 20 or 50. If you are just starting out in the world of work the best advice you can receive is to allocate a certain percentage of you gross income for retirement. 

Here is some general advice for planning for your retirement

How much will it take to retire?

Many sources estimate that it will require 70-80% of your gross income to retire. Social Security is only likely to cover 45-60% of that amount. If you are in a higher income bracket this percentage could be even lower.

Our free Excel spreadsheet pFin, has an estimator that allow you to plan for retirement.