|July 2008 · Vol. 20, No. 07
Use this quick gauge for retirement planning
How much money should you save? That depends on how you’ll want to live.
Make an appraisal of your spending habits—but keep in mind that everyone lies about, or misjudges, how much they spend!
Mr. Bryan is a Certified Financial Planner at Mesirow Financial, Chicago.
The author reports no financial relationships relevant to this article. Any opinions, statements, or advice in this article are the author’s and do not necessarily reflect those of Mesirow Financial Holdings, Inc., or any of its affiliates and subsidiaries. Mesirow Financial does not provide legal or tax advice.
If one issue dominates all others in financial planning, it’s retirement. Every client, at some point, asks two timeless questions of me: How much will I need in retirement? And how much do I need to save now to get there?