Learners Quest
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The purpose of having a retirement plan is to set yourself on the path to a more comfortable life as you get older. People who have been saving enough have found that their investment money has grown into a decent amount of money over the years, especially when they used their savings wisely. For example, one may start out with just $100 and see that over time it becomes well over five figures. Those who did not save enough for themselves in their past regret not having enough for themselves even though they could have if they just planned ahead. Those who had no plan and did not save enough for their retirement regret that they cannot live the life they want in the future. If you are one of these people, you should now wonder how much money one needs in order to live an adequate life in the future.
The main question that many people have asked themselves when nearing retirement is how much money they will need for the rest of their lives. A good way to think about it is to compare your current expenses to your future ones. For example, if you earn $1,000 per month and spend $1,000 per month on expenses, then that leaves you with zero savings each month. You may want to tweak this number or your living situation based on your current expenses and future ones (if they are healthier).
The main question that many people have asked themselves when nearing retirement is how much money they will need for the rest of their lives. A good way to think about it is to compare your current expenses to your future ones. For example, if you earn $1,000 per month and spend $1,000 per month on expenses, then that leaves you with zero savings each month. You may want to tweak this number or your living situation based on your current expenses and future ones (if they are healthier).
