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Reply to "How much do people have saved for retirement?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am blessed to have a husband who convinced me to be a big saver as soon as we got married. He set a retirement goal that at a 4% return would generate income equal to our normal household income so that life would go on as usual. Well we exceeded that goal! The message is start saving when you are young and invest wisely. The benefits of compounding are enormous. [/quote] At the start did you project what your household income would be just before retirement (i.e. 35 years later)?[/quote] No, I think he started with a gross retirement target and 4% and then over time he would update it. As I said we well exceeded it but it gave him a target. We actually spend a lot more in retirement then we did when we were working which is not the normal planning approach. [/quote]
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