Dear Friend,
There’s a huge gap between what most people think they’ll need and what they really need. And if you get this wrong, you could end up working far longer than you want—or worse, drastically cutting your lifestyle just to get by.
So, how much do you need? It’s a simple question with a complicated answer.
The Harsh Reality of Retirement
Most people vastly underestimate the cost of retirement. They assume they’ll need less money because, after all, they’ll have fewer expenses, right? Wrong. The truth is, while you might spend less on commuting or office attire, other costs, like healthcare, tend to shoot through the roof once you stop working.
Think about it. You’ll still need to cover basic living expenses: housing, utilities, food, insurance. But then you have to consider the unexpected—health emergencies, home repairs, and the rising cost of healthcare. And that doesn’t even account for the fun stuff—traveling, hobbies, spoiling the grandkids. Retirement should be about enjoying the fruits of your labor, not scraping by.
The 70-80% Rule: Why It’s Not Enough
A lot of “experts” out there will tell you that you need to replace about 70-80% of your pre-retirement income to live comfortably. Sounds reasonable, right? Well, it’s a lie. That might get you by if you’re planning on doing absolutely nothing in retirement, but let’s be real—nobody works 30 or 40 years just to sit on the couch pinching pennies.
If you want to actually enjoy your retirement—take trips, pursue your passions, and live life on your terms—you’re going to need more than 70-80%. In fact, for most people, hitting 100% or more of their pre-retirement income is the key to living the life they want. And that doesn’t happen by accident.
Don’t Let Social Security Fool You
Then there’s the myth of social security. People assume that once they hit retirement, their social security benefits will fill in any gaps. I hate to be the bearer of bad news, but Social Security was never designed to fully support you in retirement. At best, it’ll replace about 40% of your pre-retirement income, which is nowhere near enough to live comfortably.
Are you ready to live on 40% of what you make now? Didn’t think so.
So, How Much Will You Really Need?
Let’s cut to the chase. To maintain your lifestyle and avoid the financial stress that so many retirees face, you need to do the math. The reality is, you’ll likely need at least 10-12 times your annual income saved by the time you retire. And that’s just a starting point. If you plan to retire early or live a more luxurious retirement, you’ll need even more.
But here’s the thing: most people don’t know if they’re on track. They don’t know if their current savings plan will actually deliver the nest egg they need to live comfortably for 20, 30, or even 40 years after they stop working. They’re crossing their fingers, hoping everything will magically work out—and that’s a recipe for disaster.
The Good News: There’s a Way to Get on Track
The good news is, it’s not too late to fix it. Whether you’re just starting to save or you’re nearing retirement, you can still make smart decisions that will set you up for the retirement you deserve. But you have to know what you’re doing, and you have to start now.
That’s why I put together a special report, “Truth, Lies, and Retirement.” In this report, I reveal the most common retirement planning mistakes that can leave you scrambling for cash when you should enjoy life. More importantly, I give you actionable strategies to ensure you have enough money to retire comfortably—without guessing, gambling, or hoping for the best.
CLICK HERE to request your free copy of “Truth, Lies, and Retirement” now. Don’t leave your retirement to chance—take control of your future today.
Sincerely,
Michael
