One of the first things people do once they get serious about planning and saving for retirement is look to a retirement calculator to find out how much they need to save for retirement. There’s nothing wrong with that. However, every person’s situation is completely different. What might be the right amount for one person will not be right for everyone.
For example, someone who is happy staying home and fishing at their local spot during retirement will need less than someone who plans to travel or play golf frequently. These are the types of things a retirement calculator might not take into consideration before giving you a certain amount you will need for retirement. Lets talk about how much you might need!