7 Retirement X-Factors for Your Nest Egg

Planning for something 20 or 30 years into the future isn’t an easy task. It seems like a simple question but there are so many things we just don’t know.

Use these seven questions to determine your retirement magic number and how much you need to grow your nest egg.

What’s Your Retirement Number X-Factor?

Start with the four factors over which you have the most control including, 1. Age 2. Retirement Target Age 3. Percentage of Salary You Invest 4. Post-Retirement Expense

What Age are You Starting Retirement Investing?

The earlier you can start saving for retirement, the better. An investment of $50 a month grows to $87,000 by age 65 if you give it 30 years.

Waiting to retire at 67 instead of 63 not only means four more years of saving but also that your retirement investments will grow over the period.

What Age Do You Want to Retire?

Saving more means finding ways to stretch your paycheck. Two of the best ways to do this are with Health Savings Accounts (HSA) and 529 College Plans. These are some of the best tax-free savings options.

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