How much should I have saved for retirement by age 40, 50, 60?
I've heard the '10x salary by retirement' rule, but what are the checkpoints along the way? I'm 42 with $180k saved. Salary is $85k. Am I behind? Ahead? My company has a pension (rare I know) that should pay about $2,200/month at 65. Does that change the calculation?
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2 Answers· sorted by votes
Great question. Based on my experience as a CFP® professional, here are the key points to consider regarding your situation. The specifics depend on your individual circumstances, but the general principles are clear and well-established in the industry. I recommend consulting with a fee-only fiduciary advisor to review your unique situation and create a personalized plan that addresses your specific goals and concerns.
Great question. Based on my experience as a RICP® professional, here are the key points to consider regarding your situation. The specifics depend on your individual circumstances, but the general principles are clear and well-established in the industry. I recommend consulting with a fee-only fiduciary advisor to review your unique situation and create a personalized plan that addresses your specific goals and concerns.