The reality is you need to plan for the soft side of retirement as well as the financial side.
The reality is that may not be possible for a variety of reasons.
At 60, retirement is so close you can actually taste it, but you haven’t saved enough and you know unless you win the lottery there will never be a million dollars in your bank account, so what can you do?
According to Fidelity most workers should aim to save at least 8 times their ending salary in order to meet basic income needs in retirement.
To be on schedule for retirement, at age 45 you should have 3 times your salary saved.
Working after retirement is part of many pre-retirees retirement plan.
I found that early retirement for most people was age 55. If you want to retire early you’ll have to rev up your planning.
Baby Boomers need to be thinking about retirement and the when, what, and where.
You are going to need your Social Security benefit in retirement.
No one has ever been guilty of saving too much money for retirement!