How Much Should I Save for Retirement?
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The starting point for any retirement plan is an understanding of what your retirement needs will be. Once you've done that, you'll have a goal to build toward. Defining your retirement needs requires both an estimated retirement age as well as an idea of your retirement spending needs. Your retirement savings plan will follow, driven largely by what you've saved to date and what you can save going forward. Don't forget to factor in your other assets, income and investment such as equity in a home, Social Security benefits, individual retirement plan investments, savings accounts, and interests in other qualified and non-qualified plan.

Use this calculator to find out how much you should save for retirement.

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Article provided by Fintactix

© 2015 Fintactix

The calculations provided by this calculator are based entirely on the information you enter, including any savings rate or expected rate of return. These calculations do not reflect the terms available for any Regions savings or other deposit accounts.

This tool is provided for educational purposes only and should not be construed as a recommendation or suggestion as to the advisability of acquiring, holding or disposing of a particular investment, nor should it be construed as a suggestion or indication that the particular investment or investment course of action that may be described herein is appropriate for any specific retirement investor. In providing this tool, Regions is not undertaking to provide impartial investment advice or to give advice in a fiduciary capacity.

This information should not be relied on or interpreted as accounting, financial planning, legal or tax advice. Regions encourages you to consult a professional concerning your specific situation and visit irs.gov for current tax rules.