A common retirement rule of thumb that we have written about in our blog in the past is the 4% rule for withdrawals from savings in retirement. A recent Market Watch article discusses the potential that this rule is inadequate for many investors.
Clients often approach us with questions regarding how much they should save for retirement. A good rule of thumb is to save approximately 10-15% of your pre-tax income for retirement, particularly for a younger individual, and perhaps more if getting a late start on retirement saving. Many investors do not realize that the impact of saving just a little bit more each month can be profound.
We recently came upon the article below in one of our financial resources that describes three important pre-retirement elements for leading a healthy retirement:
A recent survey by the American Psychological Association found that 72% of Americans were stressed about money within the past month, according to a recent article on the CNN Money website.
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