Whether you plan to spend your retirement sitting on the front porch or traveling the world, one thing’s for sure: You’re going to need money. In fact, you’re going to need enough savings and/or income to keep you alive and well potentially for decades.
But exactly how much is that?
There’s no one answer to this most critical of questions, because how much you’ll need depends on various factors, from where you live to how you live. But while there’s no definite answer, there are ways to home in on the number you should shoot for based on your personal situation.
In this week’s “Money!” podcast, we’re going to give you some tools to help you find your number.
As usual, my co-host will be financial journalist Miranda Marquit. And joining us this week is special guest Len Penzo of LenPenzo.com. Len’s an engineer who’s mastered the math. Proof? He’s about to retire at age 57.
Sit back, relax and listen to this week’s “Money!” podcast:
Not familiar with podcasts?
A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online.
They’re totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you’re like me, when riding your bike.
If you haven’t listened to a podcast yet, give it a try, then subscribe to ours. You’ll be glad you did!
Want more information? Check out these resources:
- LenPenzo.com (Len’s website)
- “Ask Stacy: Are Online Retirement Calculators Reliable?“
- “The 10 Golden Rules of Retiring Rich“
- “5 Simple Steps to an Awesome Retirement“
- Money Talks News’ newsletter
- The Only Retirement Guide You’ll Ever Need (Money Talks News course)
I founded Money Talks News in 1991. I’m a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.