Do you know how much income you’re going to require during your retirement? Depending on your lifestyle, you might need from 70% to 90% of your preretirement income — or possibly even more. And since you could be retired for many years, building savings in your plan account to help provide your income during retirement may be a priority.
After you estimate how much income you’ll need, you’ll be ready to set a retirement savings goal. Consider your potential sources of income, including Social Security and any other sources in addition to your retirement savings plan. Are you on track to meet your goal? If not, think about increasing the amount you contribute to your plan. Setting aside even a little bit more can boost your savings over time.
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This publication is designed to provide useful information about retirement plans and investing your plan account savings. While the information contained herein was obtained from reliable sources, it cannot be guaranteed as to completeness or accuracy. Before acting on any of the information provided, consult your professional advisor.
FR2017-0404-0119/E ©2017 by DST