Remember the fable about the grasshopper that spent the warm months singing while the ant worked to store food for winter? When the winter arrives, the grasshopper is left with nothing on which to survive, while the ant enjoys his hard-earned comforts.
This is a question I get asked a lot. In fact, it’s probably one of the most discussed financial topics out there. Some experts have created guidelines that give you an idea of what you’ll need to put aside for retirement based on your age, but there are so many other factors to consider.
How much you’ll need to save depends on what age you intend to retire at, if you have a pension, if you’ll retire with no debt, and what kind of lifestyle you expect to have in your retirement.
