The importance of setting goals
In less than two minutes, you’ll get a quick overview of how to approach goal setting.
How much do you need for retirement?
Everyone's situation is different, but some experts say retirees may need to replace 80% of their pre-retirement income to maintain their current lifestyle.
Depending on your circumstances, Social Security may only cover 40%. The rest may need to come from savings or retirement accounts, such as a 401(k).
Predict your retirement needs
Compare your current savings to your current age and expected retirement age.
See it in action
Try it out: The Human Interest Retirement Savings Calculator can help you project your retirement income and answer the following questions:
Will I have enough money saved up when it comes time to retire?
How much monthly income can I expect?
How does adjusting my contributions today change my financial future?
What this lesson means for you
It’s important to start saving now. But it’s equally important to take a step back to predict how much you should save. Here are some resources to help you learn more:
Article ByClaudia Newman
Claudia Newman manages the Retirement Education team that helps onboard employees to their Human Interest plan and explains the benefits of a 401(k) plan by offering live training. She has been working in the 401(k) and retirement plan industry in several capacities, including relationship management, sales, and back-office support since 2010.