Wealth Host Brad Smith takes a closer look at retirement savings goals every step of the way, from contributing to your first 401(k) in your 20s to living off of investments in retirement in your 70s.
VLP Financial Advisors certified financial planner and financial advisor Andrew Fincher joins Wealth to explain how "goals-based planning" can help investors in their 40s and 50s determine if they're on track for retirement.
Fincher says there's no one-size-fits-all number for how much you should have saved up for retirement: "You got to really think about where you're coming from" and factor in "cost of living, taxes, and lifestyle."
He suggests "goals-based planning," where investors consider your future goals and "work backward" to determine what assets you will need and what you need to be putting away now.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Naomi Buchanan.