3 Signs You're Ready to Retire Despite the Recession
Although the stock market seems to say otherwise, the U.S. economy is stuck in a recession. Given that fact, you may be worried about your impending retirement plans. If you're not sure whether you're in a good position for retirement right now, here are a few clues that you're pretty safe to move forward.
Though there's no single savings target that guarantees you'll have enough money in retirement, as a general rule, it's smart to retire with 10 times your salary in a 401(k) or IRA. If you're currently earning $80,000 a year and intend to retire in a few months, that means you should be looking at roughly $800,000 in savings, and if you're there already, you're in good shape. But if you're nowhere close, you may need to postpone that milestone a number of years.
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Source Fool.com
