How Much Money is Necessary for Retirement?

Whether you are preparing to retire soon or decades from now, financial planning needs to be done sooner than later to offer the most and be retirement options for you | Photo by Diana Parkhouse on Unsplash

Everyone looks forward to retirement. Those golden years when you can “do” what you want and not have to set an alarm clock to get up in time for work.

As Americans live longer, how much money do you need in your retirement fund to live the life you want in retirement?

The average lifespan is 85 years which means, retirement is not a one-size-fits-all plan. The traditional 70% of pre-retirement income being enough to sustain your lifestyle throughout your retirement is a fleeting memory.

Additional things to consider include planning for long-term care and Medicare coverage and how different income brackets affect retirement funds.

So the best advice is to get advice!

The experts at SmartAsset have provided a list of Dallas firms that can offer solid advice and a clear path to retirement. While some of these companies require a minimum dollar amount in assets, many have no specific amount, working with clients from all income brackets.

With a lengthy list of Dallas professionals, you can speak to someone who can place the foundation for your retirement if you have decades to work before retirement or immediate steps you need to take now if retirement is just a few years away.

If you are not comfortable speaking with an expert immediately, use the SmartAsset tool: Find Your Advisor Match. After answering a few questions, this quick online survey provides recommendations on financial advisors that may best match your situation.

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