What It Takes to Prepare for Retirement | Fresh insight into the saving and spending behaviors of retirees.

Title: What It Takes to Prepare for Retirement | Fresh insight into the saving and spending behaviors of retirees.

Article Snip: "...Deciding how much to save for retirement depends on the investor’s circumstances, the report says. This includes their income, the age at which they start saving and the lifestyle they have become accustomed to. For a 25-year-old making less than $90,000, the necessary annual savings rate ranges from 3% to 8%, depending on return assumptions and time horizons, while a 50-year-old man may need to save between 13% and 38% of gross income to achieve the same outcome. These figures demonstrate how early savers have a much better chance of achieving retirement success. ..."

Reference: www.planadviser.com