Plan for retirement from "summary" of The Wealthy Barber by David Barr Chilton
Planning for retirement is a crucial aspect of achieving financial independence and security. It involves setting aside a portion of your income during your working years to support yourself in later life when you are no longer earning a regular paycheck. While retirement may seem like a distant goal, it is important to start planning and saving for it as early as possible to ensure a comfortable and worry-free retirement. To begin planning for retirement, it is essential to determine how much money you will need to maintain your desired lifestyle after you stop working. This involves estimating your expenses in retirement, including housing, healthcare, food, transportation, and other living costs. By calculating your expected expenses, you can develop a realistic retirement savings...
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