3 Ways to Calculate How Much to Save for Retirement
Do you know how much money you need to save for retirement? If you do, you're part of a small minority of Americans. Employee Benefit Research Institute's recent survey found just 42% of all Americans had attempted to calculate the amount of money they'll need to support themselves in their senior years.
One reason why so few Americans have figured out their magic number: It's complicated to estimate the amount of income you'll need to support yourself decades from now for an indeterminate length of time. But while it can be difficult to set a clear retirement savings goal, there are some tried-and-true techniques you can use to figure out how much to save.
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Source Fool.com