How Much Do I Need to Save for Retirement?
Everyone dreams of retiring one day, being able to slow down and pursue things they love. But a huge doubt lingers in the back of your mind: “Will I ever have enough money to retire?” Costs seem to rise faster than your savings, and that doubt grows.
At Monroe Financial, we can provide clarity regarding what you need to save to retire and how to do it. Instead of wondering if you will have enough saved to retire, you can have confidence you will!
Click Here to Schedule a Free Retirement Checkup
Schedule a checkup today and get a free copy of Monroe Financial’s “Your Retirement Checklist."
Drawing on decades of experience, retirement planning firms have established savings benchmarks. These show what you should save for retirement at different ages. For example:
By age 35, financial analysts recommend you have 2X your annual salary saved for retirement.
By age 45, that retirement benchmark moves to 4X your annual salary.
By age 55, the benchmark becomes 5X your annual salary.
Do these savings benchmarks apply to everyone?
They offer a basic guide for your goals. However, we can set a more precise target by looking at your specific situation and what you want to achieve. A retirement checkup with Monroe Financial will help you gain clarity on your specific retirement benchmarks. That will help answer the question, “Will I have enough money to retire?”
How to catch up on retirement savings?
Falling behind in retirement savings is common. Many people find themselves in this situation. There are catch-up retirement strategies you can pursue to make progress and, over time, put yourself in a much better position. The key is to begin implementing these strategies, and we will help you do that.
Where should I be saving for retirement?
We always need to understand that different life situations require different investment strategies. Schedule your free retirement checkup with Monroe Financial. It will help you learn about different investment accounts and find the ones that suit you best.
Aren’t you just trying to get a cut of my money?
That is a good question to ask. As Certified Financial Planners (CFPs), we must operate as fiduciaries. That means we must act in our clients’ best interests. If you choose to trust us as your financial planner, you will see that our concern is your financial success!
Want to move from questioning whether you have enough to retire to having confidence you are on track? Listen to what others who were in your position have to say:
“I really did not have a plan in place for retirement, but then a friend recommended that I visit with Monroe Financial. They have provided me with excellent advice, and today I am in a much better position.” Ryan (age 40)
“The team at Monroe Financial is like part of my extended family. Over the years, they have created investment strategies that helped me to be able to retire, so I can now enjoy my grandchildren.” Patricia (age 71)
“I have been working with Monroe Financial for over 20 years, and they are straight shooters. In an uncertain world, they have worked with integrity to help me develop a retirement strategy that I see working!” Ric (age 54)
You, too, can experience the confidence that you are on the right track for retirement. We can help you understand your retirement savings goals, catch up on your retirement savings, or explore the best investment accounts for you.
Schedule a retirement checkup appointment to get clear answers and concrete steps to help achieve success!
Click Here to Schedule a Free Retirement Checkup
P.S. - Schedule a Retirement Checkup and get a free copy of Monroe Financial’s “Your Retirement Checklist." This valuable resource will help you begin to develop a personal financial plan. CLICK HERE to schedule your Retirement Checkup now and download your copy.