Reported 30 days ago
Fidelity's 45% rule suggests retirement savings should generate about 45% of pre-tax, pre-retirement income, while Social Security covers the rest. This guideline complements the common rule of saving ten times your salary by age 67. Research indicates retirees need to replace between 55% to 80% of their pre-retirement income; thus, financial planning to meet these requirements, possibly with the help of a financial advisor, is crucial for a sustainable retirement.
Source: YAHOO