A: This is one of the most common questions I hear, but also one of the hardest to answer. The reason is that the answer is different for everyone. The two variables you must decide upon are: how much money will you need each month or year when you retire, and then how long will that money need to last?  I know that you don't know how long you will live, but you must pick a number and start somewhere. 

The next step is to go on the Internet and do a search for retirement calculators.  These tools will allow you to adjust the amount of money you will need and how long you think you will live to give you a lump sum amount that you'll need upon retirement. You can then work backwards to figure out how much you need to save from now until retirement to accumulate that lump sum amount.

Prosperity Partners, Inc.
www.prosperitypartners.com
800-868-6230
JasonR@ppicash.com