Retirement planning is an important step to ensure a financially secure future. When calculating how much you’ll need to live on in retirement, there are various factors to consider. Everyone’s circumstances are different.
While the general rule of thumb suggests aiming for around two-thirds of your final salary at retirement after taxes, it’s crucial to consider your requirements and desired lifestyle. Some individuals may need more or less depending on housing costs, healthcare expenses, travel plans and other lifestyle choices.
It’s essential to assess your situation and obtain professional financial advice to determine the appropriate amount to fund your desired retirement lifestyle.