Interested to see where your savings will leave you for your retirement?
Check out this link from Get Smart About Money to determine if you’re on the right path or need to contribute more.
In order to determine if it’s enough, you will have to first figure out what you plan to do during your retirement.
“How Will I Know What I Plan To Do In My Retirement?”
I agree, it’s hard to predict that far into the future. As a gauge, use your current ‘would-like’ wish list as a starting point. For me, I would love to travel all over the world and explore more of Canada.
Maybe you plan to stay within Canada and visit with family and friends, take part in local activities and events (i.e. Curling league, group choir, road trips to small towns)? Or do you plan to travel outside of Canada for long periods of time (i.e. Europe for 2 months)?
As with most things, they change and evolve over time and with life experiences. Maybe the idea of traveling is not something you would be interested in right now, but fast forward through life and that may change. A large group of friends may decide, on a whim, to take a cruise to Alaska.
It’s best to plan for the what-if’s and know that you ‘could’
Prepare yourself for anything that comes along and being financial comfortable to do it.
Here are some additional resources for ‘living your retirement’
Did the link above help you? Are you saving for a comfortable retirement?
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