It’s time for a retirement savings ‘reality check’.  People aren’t saving enough for retirement and most don’t know where to start.  Here are 2 basic rules of thumb anyone can remember:
1.       The ‘Minus 10 Rule’: If you’re in your 20’s the minus 10 = save 10% of your income; 30’s = 20% of income; 40’s = 30% of income; 50’s = 40% of income.  Assuming you haven’t create any significant saving and you want to retire at normal retirement age of 65
2.       The ‘25 Times Rule’: however much income you’ll need to take from your savings at retirement, multiply that number X 25 to get the capital you’ll need to accumulate.  Example, you project that you’ll need to take $40,000 per year from savings (in addition to your Social Security and company pension).  $40,000 X 25 = $1,000,000 of capital needed to produce $40,000 per year for life (includes inflation adjustments annually).
Don’t waste time!  Get started NOW!