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Understanding How Much You Need in Retirement
It can be easy to be fooled by a large number in your savings account if you don’t price out how much you actually need. Money in savings drains quickly when you aren’t bringing in any more money. It is important to sit down and figure out how much you need now, and how much you will need in retirement to sustain the quality of life that you expect to maintain. The number you come up with will vary from everyone elses, even with the number often given out by experts. This is the reason experts give a target percentage instead of a round figure to aim for. For more reading on this topic, visit this article by Richard Mason with MarketWatch.
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