Planning for Your Future Has Never Been Easier!

1. Start early - the power of compounding can work wonders when given time.

2. Educate yourself - understand the basics of investing and various options available.

3. Automate investments - consider setting up automatic contributions to your investment accounts.

4. Diversify your portfolio - spread your investments across different assets classes to minimize risk.

5. Consider your risk tolerance - understand your own risk tolerance and allocate your portfolio accordingly.

6. Minimize fees - high fees can eat into your returns, so look for low-cost investment options.

7. Plan for Social Security - consider Social Security as part of your retirement income plan and estimate the benefits you may receive.

Social Security is a government-run program that provides a source of income to eligible individuals in retirement. It is funded through payroll taxes, and the amount you receive in benefits is based on your earnings history.

As for how much money someone will need to retire, it varies depending on factors such as lifestyle, inflation, and health expenses. A commonly cited rule of thumb is to aim for 80% of your pre-retirement income, which is roughly equivalent to saving 15% of your income for retirement for 30 years. However, the exact amount will depend on individual circumstances, so it's recommended to consult a financial advisor for a personalized estimate.