How much money do I need to retire?
This is probably the question financial planners are asked the most when clients walk in to discuss retirement freedom. A simple question, in theory, but not an easy answer. Understanding what your optimal retirement savings are means peace of mind in your golden years.
So how do you plan for financial success? Most financial professionals agree that you can plan for your future by answering a few questions, and start with honest expectations of how you want your standard of living to be. This is referred to as the, “life-cycle consumption smoothing and it holds that the key to effective retirement planning is to try to keep your standard of living as consistent as possible for your entire life.