If you have read this website with any regularity, you will know that I am a freak about having a financial plan. I want a written and very detailed plan for anything related to my finances.
One thing that I teach during live events is the importance of calculating how much money you need to retire. It is also taught in my book, I Was Broke. Now I’m Not.
It is SO IMPORTANT to know how much money is needed to retire well.
How much money do you need to retire?
One of my favorite on-line banks, ING Direct, has created a terrific website to help you answer the question. I went to the website and calculated my number, and it FIRED ME UP!!!
I enjoyed the brief exercise so much that I want to CHALLENGE to everyone today to take five minutes to complete the following two tasks (trust me, it will be worth it):
- Calculate Your Number at INGYourNumber.com
- Calculate Your Number using the JosephSangl.com “Retirement Nest-Egg Required Calculator“.
Are YOU going to be able to retire well?
NOTE: I love my ING Direct savings accounts. They pay excellent interest (comparable to a 30-month CD), but you do not lose the liquidity of your money! You can check them out HERE.