How Much do I Need to Have Saved for Retirement?

A good rule of thumb is that you can plan on withdrawing 3-5% of your account value each year. For example, if you have $2 million saved for retirement, you might be able to withdraw $60,000-$100,000 per year from your investment accounts (depending on what you are invested in). If you think you can live on that amount, maybe that would be your goal for retirement savings. Each person’s financial situation is different, so there is not a one size fits all number that we can give you.

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