You’re working very hard and you have one simple goal: Create a big fat nest egg by age 65, so that you can put up your feet and enjoy the fruits of your labor. While the goal is crystal clear, the uncertainty lies in deciding exactly how much to save for retirement. Where do you even begin? There are so many variables to consider: your current age, salary and possible increments, lifestyle, rate of inflation, life expectancy.
Here is what you can do – Bring together a few theories, add in a couple of safe assumptions, do some educated forecasting and use a handy retirement calculator to get a close estimate. To start with, here are a few things you can do