How Much To Save For Retirement

One of the hardest questions to answer is the ubiquitous, "How much should I save for retirement?" And of course, investors expect a cookie-cutter, one-size-fits-all answer to this very complicated question. Some experts tell couples to save a million bucks, others advise saving enough so that you can safely withdraw 4% per year without facing any negative consequences. Of course, neither of this answers applies to everyone's situation. There are so many variables that you have to consider--do you plan on travelling extensively during your retirement? Will you have your house paid off by the time that you retire? Will you be providing money to any of your children during retirement? Do you expect to spend more, as much, or less than your pre-retirement income during your golden years? Do you have a pension? When will you start claiming social security benefits? And these are only a handful of the questions that you will have to consider before arriving at a golden number to reach during retirement. One thing you can take solace in is the fact that most experts are overtly cautious in their retirement estimates, often preparing for a worst case scenario--so if you save less than they recommend, you may not necessarily have to despair. I highly recommend that you check out The Retirement Income Blog to arrive at an estimate of how much you ought to be saving for your golden years, link here: http://www.retirement-income.net/blog/ .