Retirement signifies a major life transition, moving from full-time employment to a new chapter. This section delves into comprehensive retirement planning,...
The earlier, the better. Starting in your 20s or 30s allows compound interest to significantly grow your savings over decades, making financial goals more achievable.
This varies greatly depending on individual lifestyle, desired income, and expected expenses (like healthcare). A common guideline is to aim for 70-80% of your pre-retirement income annually.
Popular options include employer-sponsored plans like 401(k)s, individual retirement accounts (IRAs) such as Traditional or Roth, and Health Savings Accounts (HSAs), which offer tax advantages for retirement savings and healthcare.