More often then not people are more concerned about retiring at a specific age rather than at a specific income. If we were to have the mindset of George Foreman then we would be in a much smarter position for retiring.
I am sure you have thought about the age you want to retire more than once, but how much money do you actually want to have when retiring? Do you have an idea of how much you want or need when retired? It is a question you need to able to answer to make sure you have enough money throughout your retirement.
Issues will arise when you are retired that you need to be ready for. What if you get sick and have medical bills or something breaks in your home? Do you have enough in your retirement to cover the costs?
Start today buy changing your mindset from the age you want to retire at to the income you want to retire at. Don’t stop there either because once you know at what income you want to retire at you need to make sure that it will be enough to last you throughout your retirement.
For more help figuring out how much you actually need to retire and when checkout Is Your Retirement Plan Ready. I highly recommend using the calculators towards the bottom of the mentioned article.
Author: Nick Barker