How to Calculate Needs in Retirement for Couples and 5 Key Savings Strategies

Today we dive into the crucial topic of retirement planning for married couples. With the challenge of harmonizing two different perspectives on retirement, this episode offers valuable strategies to increase savings and ensure a comfortable retirement…

Click here to Download Your FREE “3 Steps” to Plan an Epic Retirement Worksheet:  https://www.trunorthwealth.com/newsletter-signup

What’s included:  3 Steps to Planning an EPIC Retirement

Step 1:  How will You Spend Your Time?

Step 2:  Identify Your Income & Expenses

Step 3:  Putting it all Together

 

Connect with Danette Lowe, CFP^®

https://linktr.ee/trunorthwealth

Visit Our Website:  https://www.TruNorthWealth.com

 

Episode Summary:

We kick off with a discussion on a recent T. Rowe Price study, which benchmarks the ideal savings by age for both single individuals and married couples. For instance, at age 55, you should have five times your annual income saved, and by 65, it should be eight and a half times. Danette breaks down these figures with real-world examples, providing a clear starting point for retirement planning.

.css-j9qmi7{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-flex-direction:row;-ms-flex-direction:row;flex-direction:row;font-weight:700;margin-bottom:1rem;margin-top:2.8rem;width:100%;-webkit-box-pack:start;-ms-flex-pack:start;-webkit-justify-content:start;justify-content:start;padding-left:5rem;}@media only screen and (max-width: 599px){.css-j9qmi7{padding-left:0;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;}}.css-j9qmi7 svg{fill:#27292D;}.css-j9qmi7 .eagfbvw0{-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;color:#27292D;}