One of the biggest fears people have as they approach retirement is running out of money. After years of saving and working hard, the idea of outliving your savings can create anxiety that keeps people from fully enjoying the life they’ve built.

The reality is that people today are living longer than ever before. Medical advancements and improved lifestyles mean a retirement that could last 25 to 30 years or more. What used to be a 10- or 15-year window for previous generations now requires a much longer income plan. That’s why no single “magic number” can determine how much you need to retire. Every person’s plan is unique and depends on individual lifestyle, goals, and income needs.

kAm*@FC DE2?52C5 @7 =:G:?8 😀 E96 7@F?52E:@? @7 J@FC A=2?] &?56CDE2?5:?8 H92E :E 4@DED E@ >2:?E2:? J@FC 4FCC6?E =:76DEJ=6 😀 6DD6?E:2=] s@ J@F A=2? E@ EC2G6=[ 5@H?D:K6[ @C E2<6 @? ?6H 9@33:6Dn (:== J@F DA6?5 >@C6 62C=J 😕 C6E:C6>6?E 2?5 =6DD =2E6Cn %96D6 BF6DE:@?D 96=A D92A6 9@H >F49 :?4@>6 J@F’== ?665 2?5 9@H E@ DECF4EFC6 J@FC H:E95C2H2=D]k^Am

kAm%96 ?6IE DE6A 😀 :56?E:7J:?8 H92E :?4@>6 D@FC46D J@F’== 92G6] $@4:2= $64FC:EJ H:== 368:? 36EH66? 286D ea 2?5 f_[ 2?5 7@C D@>6[ A6?D:@?D @C 2??F:E:6D AC@G:56 255:E:@?2= DE23:=:EJ] uC@> E96C6[ E96 7@4FD D9:7ED E@ 9@H J@FC :?G6DE>6?ED 42? DFAA=6>6?E E92E :?4@>6] z?@H:?8 9@H >F49 J@F ?665 E@ 5C2H 7C@> D2G:?8D — 2?5 H96? — 96=AD 6?DFC6 J@FC A@CE7@=:@ DFAA@CED J@FC =:76 E9C@F89@FE C6E:C6>6?E]k^Am

kAmx?G6DE:?8 AC@A6C=J 5FC:?8 C6E:C6>6?E 😀 ;FDE 2D :>A@CE2?E 2D D2G:?8 7@C :E] z66A:?8 E@@ >F49 >@?6J 😕 42D9 >:89E 766= D276[ 3FE :E 42? 24EF2==J :?4C62D6 J@FC C:D< @7 CF??:?8 @FE @7 >@?6J] x?7=2E:@? 6C@56D AFC492D:?8 A@H6C @G6C E:>6[ >62?:?8 E96 Sf_[___ J@F ?665 E@52J 4@F=5 C6BF:C6 Sh_[___ @C >@C6 😕 2 564256] w2G:?8 2 5:G6CD:7:65 :?G6DE>6?E A=2? E92E 62C?D >@C6 E92? E96 :?7=2E:@? C2E6 96=AD AC6D6CG6 J@FC =@?8\E6C> D64FC:EJ]k^Am

kAmxE’D 2=D@ 4@>>@? 7@C C6E:C66D E@ F?56C6DE:>2E6 @C @G6C6DE:>2E6 E96:C DA6?5:?8] $@>6 DA6?5 E@@ 7C66=J 62C=J @?[ H9:=6 @E96CD 2C6 @G6C=J 42FE:@FD 2?5 6?5 FA ?@E 6?;@J:?8 E96 H62=E9 E96J H@C<65 92C5 E@ 3F:=5] p D@=:5 A=2? 96=AD J@F 7:?5 32=2?46 — 8:G:?8 J@F 4@?7:56?46 E@ DA6?5 H96C6 :E >2EE6CD 2?5 D64FC:EJ E92E J@FC >@?6J H:== =2DE]k^Am

kAmw6C6 2C6 D@>6 <6J 4@?D:56C2E:@?D 7@C 2G@:5:?8 E96 C:D< @7 @FE=:G:?8 J@FC D2G:?8Dik^Am

kAm• &?56CDE2?5 J@FC DE2?52C5 @7 =:G:?8[ 2?5 4C62E6 2 C62=:DE:4 C6E:C6>6?E 3F586E]k^Am

kAm• x56?E:7J J@FC C6=:23=6 :?4@>6 D@FC46D[ DF49 2D $@4:2= $64FC:EJ[ A6?D:@?D[ @C 2??F:E:6D]k^Am

kAm• s6G6=@A 2? :?G6DE>6?E DEC2E68J E92E <66AD A246 H:E9 :?7=2E:@? H9:=6 32=2?4:?8 C:D<]k^Am

kAm• #6G:6H J@FC A=2? C68F=2C=J[ 2?5 25;FDE 2D 6IA6?D6D[ >2C<6ED[ 2?5 8@2=D 6G@=G6]k^Am

kAm• pG@:5 =6EE:?8 762C <66A J@F 7C@> 6?;@J:?8 J@FC C6E:C6>6?E J62CD — A=2? H:E9 AFCA@D6]k^Am

kAm#6E:C6>6?E D9@F=5 36 2 E:>6 @7 7F=7:==>6?E[ ?@E 7:?2?4:2= DEC6DD] (:E9 E96 C:89E DEC2E68J 😕 A=246[ J@F 42? DE@A H@CCJ:?8 23@FE H92E 4@F=5 8@ HC@?8 2?5 DE2CE 7@4FD:?8 @? H92E’D ?6IE]k^Am