Not that the news has been cheery on the retirement front, with headlines blaring how unprepared most people are, but it could even be worse.
According to Forbes, there are a number of factors that are undermining just how well people can gauge their preparedness. Among them is the use of rule-of-thumb estimates on how much people may need to meet their expenses in retirement.
While aiming generally toward replacing 70 percent to 80 percent of your income may sound good enough — at least before you get close to the time when those numbers will have to be validated — if you don’t consider how much you personally may need, you could fall way short.
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