How to Figure Out How Much You Need to Retire Comfortably

Retirement comfortably

Retirement comfortably

Many people have heard that they need to save $1 million to retire comfortably. While this isn’t necessarily a bad goal, it isn’t accurate for everyone.

In fact, each person will have slightly different requirements. You’ll need to account for factors like where you’ll live, your current health, your age at retirement, and much more.

If you are trying to figure out how much you need to retire comfortably, here’s how to get started.

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What Savers Do with Their Work Bonuses

Save your work bonuses

Save your work bonuses

If you’re a hard-working professional, receiving a bonus is the ultimate form of recognition. Everyone loves a little bit of extra cash, but figuring out what to do with your windfall isn’t always easy.

Many people are tempted to blow their work bonuses by making a purchase they would usually skip. However, if you want to adopt a saver’s mentality, that’s the last thing you should do.

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Traditional or Roth IRAs – Which Are Best?

Traditional or Roth IRA?

Traditional or Roth IRA?

Planning for retirement is challenging. Often, you have to anticipate your future financial situation and estimate your needs well before you’ll begin pulling money from your retirement account. This makes it challenging to choose between a Traditional or Roth IRA. Each offers distinct benefits and drawbacks, largely based on the lifestyle you believe you’ll have, not the one you have today.

If you aren’t sure which option is right for you, here’s what you need to know about Traditional and Roth IRAs.

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