The article emphasizes the significance of both assessing savings and envisioning one's desired retirement lifestyle. Most individuals worry about retirement throughout their careers, making it crucial to save steadily. Guidelines suggest allocating 15-20% of income to retirement savings annually, but personal circumstances can affect this. Fidelity’s age-specific guidelines provide benchmarks for retirement savings, suggesting goals based on income rather than averages. This personalized approach encourages individuals to measure their own progress against realistic targets, emphasizing the value of consulting a financial advisor for tailored long-term advice.
It's crucial for individuals to regularly assess their savings and envision their desired lifestyle in retirement, which helps determine actual financial needs.
Consulting a financial advisor can provide insights and confidence in your long-term retirement plans, regardless of where you currently stand in your savings.
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