Your Retirement Savings Goal Checklist

Content Type: Checklist

Retirement may seem like a long way away, but when it comes to preparing, earlier is better. Start planning today with this checklist:

Determine how much annual income you’ll need to maintain your lifestyle in retirement.
Account for inflation and the number of years you’ll spend in retirement.
Add up expected Social Security benefits and pension benefits, and subtract the amount from your target annual income.
Use an online retirement calculator to convert your needed retirement funds into a manageable monthly savings goal.
Create a monthly budget that allows you to save what you need.
Revisit your goals when your financial circumstances change — for example, when you get married, have a child, or change jobs.
Monitor your progress on a quarterly basis, and adjust course if necessary.