I’ve been helping people retire successfully for over 35 years, and in that time I’ve learned there are a handful of things people need to be aware of and prepare for in advance to really set themselves up for retirement success.
Failure to plan for cognitive and physical decline in the later years of retirement often creates problems that could have easily been avoided. Fortunately, you can prevent a lot of issues by taking a few simple steps to prepare for this phase of life before you get there.
I often hear rules of thumb that someone my age should save 10-12% of their income to fund their retirement. I don’t doubt that this is a good starting point, but rules of thumb like this simply can’t apply to everyone. But if you can’t trust a rule of thumb like this, how do you know how much to save?