Best In Wealth - Best Practices For Real People, Investments, Retirement Planning, Money Management, Wealth Building, Financi

Are you on track for retirement? Do you have enough money saved at this point in your life to retire or reach financial freedom by 65? One of the biggest questions I hear is: How much money do I need to save for retirement? In this episode of Best in Wealth, I do my best to answer that question using the formula Charles Farrell outlines in his book, Your Money Ratios: 8 Simple Tools for Financial Security at Every Stage of Life. You need to take actionable steps now to be prepared for your future.Outline of This Episode[0:35] What do you dream about doing?[3:58] Are you on track for retirement?[11:15] Why you need 80% of your current income[13:51] How do you come up with the $60,000?[17:37] What’s your job now?Get retirement ready with Charles Farrell’s formulaYou need to create a detailed retirement plan to really zero in on your goals and get the right steps in place to prepare. In his book, Charles Farrell shares a simplified version of how much savings you’ll need. I’ll give you some simple guidelines fro