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How Much is Enough?

How Much is Enough?

| August 11, 2020

How much money will you need to retire? Simply put, it costs more to live longer.

However, most people underestimate how long they may live. If you base your retirement plan on assumptions that are too conservative, you run the very real risk of outliving your money. Assumptions that might have made sense a decade or two ago may now be outdated largely due to rising healthcare costs and the impact of inflation and taxes on your retirement income.  Relying on outdated assumptions is playing with fire.

Knowing how much to save for retirement is extremely important, but complex to calculate. Your plan should reflect your lifestyle goals and risk tolerance and take interest rates, market fluctuations, and healthcare costs into consideration.  

In next month's Odyssey NexGen blog post, we'll talk about how to get started saving for retirement.  In the meantime, if you’re thinking it may be time to re-evaluate your current retirement plan, let’s connect to discuss in more detail.  Contact to learn more.