Everything about retirement
How much should you save for retirement?
To determine how much yu should save for retirement aim to save at least 15% of your anua income. If you start saving in your 20s or 30s you might need to save less each month compared to starting in your 40s and 50s. For example, if you earn 50k a year, saving 15% means putting away 7500$ annually.
What is the definition of retirement?
Retirement is essentially the act of withdrawing from your active working life, typically ending your career or occupation. It’s when someone stops regular employment, often due to age, but sometimes for health or personal reasons. In short, it’s the transition to a phase of life where work is no longer the primary focus.