5 Things You Must Do Before Reaching Retirement Age
Save Money For Living Costs
The rule is to assume 60-80 percent of your current salary is to be used during retirement. However, don’t take this rule in its entirety. It is best to analyze your bank statements and credit card purchases for months and understand what you are spending on and how much. Look to see where you are spending, and see if those costs will transition into retirement. Or perhaps, you will be adding costs for travel or a vacation home. Further, plan for inflation. Know what you are saving now, and add inflation percentages for when you retire.