How to CRUSH Your Savings Goal
Kiplinger's Personal Finance|February 2022
To cross the finish line when you want, find the right target for your retirement savings and follow our training regimen.
SANDRA BLOCK
How to CRUSH Your Savings Goal

As anyone who uses a fitness app can attest, setting goals can be a valuable motivational tool. The allure of the couch is easier to resist if your Fitbit or Apple Watch informs you that you’re well short of your daily step or exercise target.

Likewise, visualizing a retirement goal—and working toward a specific number—can motivate you to save, even when retirement is years away. “We’ve found that most people find it helpful, regardless of their age, to have an idea of how much they likely should be saving in order to retire at a reasonable age,” says Tom McCarthy, a certified financial planner in Marysville, Ohio. “Without a target, they just don’t know how much to save, how much risk to take, and which types of investment accounts to use.”

There are plenty of calculators on the internet that will help you estimate your retirement number. But as with any calculator, your results will depend on the information you provide, which may not always be accurate. And even if your data is on target, your retirement number isn’t static. The amount you’ll need to retire comfortably will change throughout your working career depending on numerous factors, ranging from how much you earn, how long you expect to work and your investment returns.

Denne historien er fra February 2022-utgaven av Kiplinger's Personal Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra February 2022-utgaven av Kiplinger's Personal Finance.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA KIPLINGER'S PERSONAL FINANCESe alt
MAKING A DIFFERENCE IN THE LIVES OF DISABLED VETERANS
Kiplinger's Personal Finance

MAKING A DIFFERENCE IN THE LIVES OF DISABLED VETERANS

He suffered grave injuries in the line of duty. Now he helps other veterans who have disabilities.

time-read
2 mins  |
November 2024
DO YOU NEED UMBRELLA INSURANCE?
Kiplinger's Personal Finance

DO YOU NEED UMBRELLA INSURANCE?

A policy can protect you from financially devastating events.

time-read
2 mins  |
November 2024
Navigating Finances as a Blended Family
Kiplinger's Personal Finance

Navigating Finances as a Blended Family

Money matters can get complicated when two families unite. Planning is key.

time-read
4 mins  |
November 2024
BREAKING UP WITH YOUR BROKER
Kiplinger's Personal Finance

BREAKING UP WITH YOUR BROKER

Be aware of these challenges when you move your money to a new home.

time-read
5 mins  |
November 2024
CHOOSE A MEDICARE PLAN THAT'S RIGHT FOR YOU
Kiplinger's Personal Finance

CHOOSE A MEDICARE PLAN THAT'S RIGHT FOR YOU

Consider your health care needs over the long term as you weigh costs and coverage.

time-read
9 mins  |
November 2024
Keep Faith in These Stocks
Kiplinger's Personal Finance

Keep Faith in These Stocks

IN 1997, I coined the phrase “faith-based investing.” It has nothing to do with religion or with picking stocks at random.

time-read
5 mins  |
November 2024
OUR ESG PICKS ARE THRIVING
Kiplinger's Personal Finance

OUR ESG PICKS ARE THRIVING

Despite an ongoing backlash, our favorite stocks and funds focused on environmental, social and corporate governance issues had a good year overall.

time-read
9 mins  |
November 2024
MONEY MANNERS FOR THE MODERN AGE
Kiplinger's Personal Finance

MONEY MANNERS FOR THE MODERN AGE

The customs for splitting a restaurant check, purchasing a wedding gift, tipping and more have evolved. These guidelines can help.

time-read
8 mins  |
November 2024
ELECTION 2024: POLITICS AND YOUR PORTFOLIO
Kiplinger's Personal Finance

ELECTION 2024: POLITICS AND YOUR PORTFOLIO

Who wins the White House matters—but only at the margins when it comes to your investments.

time-read
2 mins  |
November 2024
YOUR GUIDE TO OPEN ENROLLMENT
Kiplinger's Personal Finance

YOUR GUIDE TO OPEN ENROLLMENT

With health care costs on the rise, it’s critical to select a plan that fits your needs at the right price.

time-read
7 mins  |
November 2024