Planning for retirement is a crucial step toward ensuring financial security in your later years. A key part of this process is determining your "retirement number"—the amount of savings required to maintain your desired lifestyle.
Understanding this number helps shape your savings strategy and investment decisions, guiding you toward a comfortable and secure retirement.
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“What is your number?” That is the catch phrase of a popular advertisement that runs and re-runs amongst financial advising companies.
These types of campaigns are popular as many people will have a jolt of panic at some point just past mid-life, where they think, “Will I have enough for my retirement? I’d better get prepared.” Having a target ‘number’ can help you to understand just how big the mountain you must climb, really is.
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