Required Savings Rates

Retirement planning, college savings, estate planning, gifting… Our financial lives can become overwhelming. Therefore, the best way to achieve one’s short- and long-term goals is to establish a formal financial plan. Our thorough process, led by a Certified Financial Planner™ (CFP®) and combined with one of the most highly rated software platforms, ensures that we and our clients review all relevant investment, tax, insurance and estate information and arrive at a strategy that properly reflects the objectives and risk tolerance of each client.

Required Savings Rate for Retirement

(Percentage of annual salary. Assume $0 of Accumulated Savings at the Beginning Age)

How much do I need to save for retirement?
*Assumes appropriate asset allocation for reasonable-risk investor through accumulation year; also assumes normal raises and an 80% wage replacement ratio at Social Security normal retirement age and includes Social Security retirement benefits. **At age 55, the person will realistically have to delay retirement until age 70. Source: Dalton, Michael A. Fundamentals of Financial Planning. Money Education, 2013.

The biggest question faced by retirees or those working to save for retirement is…

Have I saved enough for a comfortable retirement?

To help you determine the answer to this question, we propose a discussion framed around these four questions:

  1. What do you expect from retirement and how can you fulfill those goals?
  2. How many years do you expect to be retired?
  3. How will inflation affect your portfolio over time?
  4. How can scenario analysis help you to think about your retirement?

Retirement Guide Check out our FREE GUIDE on Are You Ready For Retirement?

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