In order to determine how much you need to save for retirement, you first need to define what a successful retirement means to you. The next step is to do a budget to determine what is needed to finance your desired lifestyle. This is a better approach than simply randomly choosing a % of your current income.
There are calculators available on many websites to help you determine how much you will need to save to generate a specific retirement income. Given the complexity of retirement planning though, you would be best served working with a financial or retirement planner.
There are resources and additional information on Retirement Planning on my website, www.jpw.ca . It includes a Retirement Planning Checklist that will save you time and money.
If you have any further questions, or feel that I could be of assistance, please do not hesitate to contact me.
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There are calculators available on many websites to help you determine how much you will need to save to generate a specific retirement income. Given the complexity of retirement planning though, you would be best served working with a financial or retirement planner.
There are resources and additional information on Retirement Planning on my website, www.jpw.ca . It includes a Retirement Planning Checklist that will save you time and money.
If you have any further questions, or feel that I could be of assistance, please do not hesitate to contact me.