Planning for retirement isn’t as cumbersome as it’s usually perceived.
What’s the ideal retirement savings? To tell the truth, it’s quite straightforward. While it might seem like you need a lot of prerequisites, it all boils down to just your age and income.
Let’s examine a hypothetical character, Joe, who lands a job right after college. By the age of 25, he’s earning an annual income of $40,000. If his goal is to retire at 65, he should aim to have at least $4,000 saved in his retirement fund.
LEARN MORE WITH CNN MONEY.
Image provided by: Unsplash
