How much retirement income will I need?


 
myth: Throughout my retirement, I'll need 60%, 70%, or 85% of my pre-retirement income.
truth: Your expenses will change as you age. Early in your retirement, you'll spend more on leisure but later, your health care expenses may increase.

To achieve your idea of retirement, you'll need to make some important decisions, because your income:

My changing retirement expenses

My changing retirement expenses While your basic living expenses remain constant, at the start of retirement your lifestyle expenses are higher and are likely to decrease with age. At the end of retirement your health expenses are higher and are likely to increase with age. 

Next step: Understand Where will my retirement income come from?