Enjoying your retirement requires a consistent flow of income.
A common rule of thumb when planning for retirement is to save 10% of your gross income during your working years.
Since this rule of thumb has been around for a long time, it’s logical to question whether it’s still an appropriate guideline. Several trends suggest that it is probably on the low side given the following facts:
- Fewer individuals are covered by defined-benefit plans.
- The Social Security system will face increasing pressure in the future.
- Life expectancies are continuing to increase.
- Plans for retirement have changed.
Trying to gauge whether your retirement savings are on track? Contact us today for your free consultation .