Financial Planning for Your Retirement

Goal
Goal
First, you must identify your end goal. This should be the financial number you need to live, along with how long you need it to last. Identifying this number is up to you because it will vary greatly between people. If you want to travel the world, you may need a greater amount than someone who wants to stay at home and enjoy local entertainment.

Ways you can calculate this number are first, identify what you need to live. The number should include food, shelter, health costs, clothing, etc. From there, you can plan for what activities you would like to do in retirement and factor those costs in. Then you will calculate how long you expect to live and you can then find a rough number to go by. Always over save because as we advance, humans are living longer than ever before.