The document discusses several factors to consider when determining how much to save for retirement, as there is no single answer that applies to everyone. It recommends tracking current spending to create a budget and estimate future needs, considering family health history to plan for potential increased healthcare costs, and following the 4% rule of thumb for annual withdrawals from retirement savings adjusted for inflation to reduce the risk of running out of money. The key is applying specific principles to an individual's situation rather than aiming for a set dollar amount.

1. HOW MUCH SHOULD YOU
SAVE FOR RETIREMENT?

2. The question of how much to
save for retirement is often
hotly debated. It is largely
because there is no one
correct answer that can be
applied to everyone. That is
why instead of shooting for a
particular number, future
retirees should apply some
specific principals to the
situation.

3. TRACK
SPENDING
Knowing where your money is
going is crucial to deciding
how much money is required
for retirement. Creating a
budget can be one of the
most helpful tools in
preparing for retirement.

4. HEALTH CONCERNS
Knowing a bit about family history can be
helpful in determining how much you need
to save for retirement. If many diseases run
in a family, a retiree is more likely to also
have that disease and may need to save
more to account for increased healthcare
costs.

5. THE 4% RULE
OF THUMB
This rule of thumb deals with
the withdrawal rate that you
will use as to not run out of
money too quickly in
retirement. It states that
retirees should withdrawal
four percent of your
retirement portfolio each
year, adjusted for inflation, so
that they will never run out of
money.

6. Retirement can be a scary time. While
concerns can never fully be assuaged,
there are many easy steps that can be
taken to maximize the chances of a
successful retirement.

7. THANK YOU!
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