But what if you can't work?
Almost half of retirees had to retire before they expected, according to EBRI. "The survey results contain a lesson for workers: Do not put off too much saving," Greenwald said. "Plan to save at least a foundational amount by age 60. The risk of waiting beyond that to build a foundation is too high."
An important part of the retirement planning process is figuring out how much annual income you need to retire comfortably. And this means you need to know your number.
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