Even if you’re able to add up what you spend today, trying to determine what you will need when you retire is difficult because your spending is sure to change. While perhaps you won’t have a mortgage payment anymore, you may be asked to contribute to your grandchildren’s education, or perhaps you will want to add in a travel budget.  So then, how do you determine when you have enough? Many suggest that a good rule of thumb is to save around 25 times the amount you’ll spend in a year. That sounds like a hurdle you can’t meet, but the more income you can get in retirement that doesn’t come from your portfolio, the less you need to set aside. Some examples include social security and annuities. Call us if you’d like help in calculating if you have enough saved, or if you need options that will add to your income during retirement. We’re always here to help.