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Mid-40's? How BIG Is Your Retirement Nest Egg?

Jonathan Cements of the Wall Street Journal turned 45 this week.  Happy birthday!  His Wednesday column in the Journal is extremely helpful with personal finance and retirement issues.  Turning 45, he wonders how big should his nest egg be?

age%2045.gifTaking stock. Start with the accompanying table, which shows what percentage of pre-tax income you need to sock away over the next two decades, depending on how much you currently have saved.

Suppose you have a $240,000 portfolio, equal to three times your $80,000 annual income. To retire in comfort, you ought to save a manageable 12% of income every year for the next 20 years, calculates Charles Farrell, a financial adviser with Denver's Northstar Investment Advisors.

Posted on Saturday, January 5 by Registered CommenterWise Owl in | Comments Off