Determine Your Total Retirement Goal

Now that you have a sense of how much your annual retirement "paycheck" could be, you need to figure out the total amount of money required to generate that paycheck. This "total retirement goal" must supply your annual retirement income not just for the first few years, but for the remainder of your life. Today, the average retiree can expect to live another 20 to 30 years. By the time you get there, life expectancies will probably be even higher.