I know I'm concerned about Retirement Savings. How about you?
Are you saving too much? Here's how to look beyond the formulas.
The only hard-and-fast rule for how much retirement income you will need is that there is no hard-and-fast rule.
The financial industry's typical rule of thumb—which states that retirees need to save enough to be able to replace 75% to 85% of their preretirement income every year after they stop working—isn't really useful for many people.
New research shows that many retirees can live well on less than that but others rack up higher expenses through travel, expensive hobbies or medical costs that can't be avoided......
Read the Whole Story at WSJ HERE
