How Much To Save Per Month For Retirement?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    The question is complex.  So few Americans are really prepared for retirement.  A retirement counsellor would probably be a big help for you but the main point is to start now.  Regardless of how much you set aside, it is more than you would have had otherwise.  And then the other point is to review your progress every year or even more frequently.  So, start early and review, review, review.  Retirement is about planning even more than money.
    Answered on August 8, 2014
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  2. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! I really wish that I had more information about you and your situation to be able to give you a better answer, but here's what I can tell you. What does your retirement look like to you? Travel, relocation, stay at home and watch tv? What does your current financial situation look like? Have you started saving for retirement? How much can you safely sock away each month? If you want to live at the standard that you are now, you should have 8-10x your current salary put away. I'd also advise you to look for a long term care plan, or investments that help protect against an illness or injury that would require skilled care. Please inbox me with more detail, and I'll give you some better advice, ok? I hope this helped, thanks for asking!
    Answered on August 10, 2014
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