How Much Retirement Savings Should You Have by 67? A Big Financial Firm Gives a Clear Answer, but There's More to the Story

One of the hardest aspects of retirement planning is knowing how much money to save. You want to make sure you'll have enough income to cover your expenses and have money left over for hobbies and entertainment. And you also need to pad your retirement budget in case things go awry, such as if your home ends up requiring extensive repairs or health issues leave you loaded with medical bills.Now it's not a given that you'll retire by age 67. But if you were born in 1960 or later, 67 is full retirement age for Social Security purposes. This means that at 67, you're entitled to your full monthly benefit based on your earnings history without any sort of reduction.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool