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How To Cope With Retirement Sticker Shock

Tuesday, June 28, 2011 - 8:47 AM
From US News and World Report
If you calculate how much you need to save to completely stop working for a 20- or 30-year retirement, you'll likely arrive at a very large number. To produce an annual income of around $40,000 for 30 years, you need to have about $1 million saved. If you need more money than that to maintain your current standard of living, you'll have to save even more. Finding out that you will need to accumulate seven figures to have a modest retirement income is daunting. Here are some strategies....

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