If you are like most Americans, the chances are that you have virtually no idea how much you will be able to retire on …
In fact, only 1 in 3 do. And, everybody else in the world is pretty clueless, too … at least according to this AXA survey:
It gets worse, of those who do know (or think they know) how much they will retire on almost half don’t think it will be enough:
… and, I bet that 90% of the other half are simply settling for a LOT LESS than their dream retirement.
Don’t let that be you … start by working out your Number, and let’s go from there …
I’ve done the math, and unless I can dramatically increase my income, retirement won’t even be an option for me.
You’re not alone … this is where risk/return comes into it: how much time do you have and how big is the ‘money gap’? Not enough of the one and too much of the other? You need to take on some risk: start a part-time business or three … trade some options … buy/rehab some real-estate (then hold and rent, if you can). But, don’t dip into your savings (except to buy the real-estate … withdraw some equity on your home for this one, if you need to).