Everyone’s goals for retirement are different. Maybe your dream is to travel the world; maybe it’s to live closer to your grandchildren. Maybe your plan is to while away the days fishing or quilting; perhaps you’re planning to take up a second career. Maybe your goal is to save enough to leave a substantial sum to your beneficiaries. Whatever your dreams are, your retirement plan needs to reflect them — and because your dreams are uniquely yours, your retirement plan should be, too.
The biggest question most people have about retirement is: How much do I need? While that’s not the only question, it is an important one. And while using an online retirement calculator is fine to get a very rough idea of how much you might need for retirement, those calculators don’t take your dreams or particular circumstances into account; as such, the amount you’ll actually need for retirement can vary greatly from the number on the online calculator.
To properly plan for retirement, you have to consider all the options, all the aspects, and all the opportunities.