Thirty years certainly could be enough to save for retirement. The total amount you need to save in today's dollars depends largely on what retirement success means to you. Once you have a basic idea, you can determine what is needed to fund your desired lifestyle. Deciding what you want to do 30 years from now is quite difficult so using the "standard" 70% of current income is a good starting point.
Once you are within 10-15 years, you should start fine tuning your retirement plan to get things aligned.
NOTE: The rule of compound interest
72 ÷ interest rate = the number of years it takes for the funds to double.
For example 72 ÷ 10% = 7.2 . That means at 10% interest your money doubles every 7.2 years. Therefore, the earlier you start the better.
More information on what you ought to know about protecting and growing your Nest Egg can be found at http://www.jpw.ca
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
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Once you are within 10-15 years, you should start fine tuning your retirement plan to get things aligned.
NOTE: The rule of compound interest
72 ÷ interest rate = the number of years it takes for the funds to double.
For example 72 ÷ 10% = 7.2 . That means at 10% interest your money doubles every 7.2 years. Therefore, the earlier you start the better.
More information on what you ought to know about protecting and growing your Nest Egg can be found at http://www.jpw.ca
If you would like to work with a local Retirement Planner, you could start with a Google search. For example if you search for: retirement planner Halifax or retirement planning Halifax, my name along with several others will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.