How can I start planning for my retirement financially?
It's great that you're thinking about retirement! Start by assessing your current financial situation and setting clear goals.
What percentage of my income should I save for retirement?
A common recommendation is to save at least 15% of your income, but it can vary based on your retirement goals.
What investment options should I consider?
Consider a mix of stocks, bonds, and retirement accounts like a 401(k) or IRA to diversify your portfolio.
How do I calculate how much I need to retire?
You can use the 25x rule: estimate your annual expenses in retirement and multiply by 25 to find your target savings.
What if I start saving late?
It's never too late! Focus on maximizing your contributions and consider working longer or adjusting your retirement lifestyle.
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