CNBC recently looked at “the magic number” for those that are saving for retirement. The bottom line, there is no “magic number” that fits everyone needs. The article’s key findings:
- “A common mistake consumers make is assuming that they need income in retirement that matches or comes close to their current needs. But many current financial expenses change—you won’t still be putting away say, 10 percent of pay into a 401(k)”
- “Everyone who is planning for retirement should aim to be mortgage free when they walk out on the very last day.”
Read the full article here: http://www.cnbc.com/id/101948135.
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