Eight Tips for Setting Your Retirement Goals

Eight Tips for Setting Your Retirement Goals

  • By Tammy Flanagan; National Institute of Transition Planning; September 14, 2012Retirement Planning

Do you know how much you will have to save to retire comfortably? Have you set a goal for retirement? Or are you flying by the seat of your pants?

Last week, I wrote about planning for retirement from early in your career. Here’s a comment I received from a reader about that column:

Another suggestion that I didn’t think of until a couple of years ago is to assess what your retirement plans are and how much money you need to meet those goals. Otherwise, you read that you need X precent of your salary in retirement or look at numbers that don’t have a lot of meaning, all of which can feel overwhelming. We were pleasantly surprised when meeting with a financial planner how much we would actually need to meet our retirement goals. We moved our Thrift Savings Plan balance to a more aggressive life-cycle fund because we won’t need it for seven to 10 years after retirement. Continue reading “Eight Tips for Setting Your Retirement Goals”