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In this episode, we answer a question from a client about how to know the amount of money she needs for retirement. It's a great question to ask, the earlier the better.
We cover:

Defining your retirement vision: You can't know how much you need until you know what you want!
Retirement planning requires casting vision for your ideal post-work life.
The need to consider personal preferences and goals for the next season of life.
The importance of open communication with partners/spouses about shared retirement vision.
How to create a retirement budget-- it's going to be different than your current budget! (think paid off mortgage, hobbies, travel, grandkids, etc!)
How to use that budget to calculate your annual retirement expenses
How to plan how much income you'll need in addition to any expected income
How to use the 4% rule as a conservative guideline for sustainable withdrawals from your investments.
How to get your magic retirement number that is a clear retirement savings goal.
Here is another episode to listen to about retirement calculations.

⁠Book a free 30 minute financial coaching session with us!⁠⁠⁠⁠⁠ ⁠
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