Planning for retirement might seem far away—or even a little scary—but it doesn’t have to be. At Clarity Financial, we believe retirement should be something you look forward to, not something you worry about. And the best way to enjoy your golden years is to start planning now.

Let’s break down what you really need to know so you can build a retirement plan that gives you peace of mind.

Why Retirement Planning Matters

Retirement isn’t just about stopping work. It’s about having the freedom to do what matters most to you—spending time with family, traveling, volunteering, or simply relaxing. But without a clear plan, it’s hard to know if you’ll have enough money to make that happen.

That’s why it’s important to ask: How much will I really need in retirement?

A Simple Rule: Aim for 15–20 Times Your Annual Income

Here’s a helpful way to think about it: try to save about 15 to 20 times your annual income by the time you retire. So if you make $60,000 a year, your retirement savings goal would be between $900,000 and $1.2 million.

This amount helps make sure you’ll have enough to cover your needs for 20 to 30 years of retirement—and still enjoy life.

How Much Should You Save Monthly?

The best way to reach your retirement goals is to start early and be consistent. A good target is to save 15% of your income every year for retirement.

If you earn $60,000 a year, that’s $9,000 a year—or about $750 per month. Don’t worry if you’re not there yet. Start with what you can, and increase your savings as your income grows.

Think About Your Retirement Lifestyle

Not everyone wants the same kind of retirement. That’s why it’s important to picture your ideal retirement:

• Will you travel a lot?

• Do you plan to move or downsize?

• Will you still work part-time or start a small business?

• What kind of healthcare might you need?

These choices affect how much you’ll need. At Clarity Financial, we help you build a retirement plan based on the lifestyle you want—not someone else’s idea of retirement.

What About Social Security?

Social Security can be part of your retirement income, but it shouldn’t be the whole plan. The average monthly benefit is about $1,900, which might cover some expenses—but likely not everything.

That’s why building personal savings, investments, and other income sources is so important. We’ll help you understand how Social Security fits into your bigger retirement picture.

Protect Your Retirement with Smart Strategies

It’s not just about saving—it’s about making sure your money lasts throughout your retirement years. Here are a few thoughtful strategies that can help protect and strengthen your retirement plan:

• Diversify your investments. A healthy mix of stocks, bonds, and real estate can reduce risk and support steady growth over time.

• Work with a knowledgeable advisor. Financial professionals can help tailor your strategy, manage risks, and consider important tax planning moves.

• Plan for healthcare costs. Medical expenses often increase with age, so thinking ahead with long-term care coverage and Medicare planning is key.

• Include estate planning. Wills, insurance, and legacy planning are important to ensure your wishes are carried out and your loved ones are taken care of.

These steps reflect a well-rounded approach to retirement planning—one that focuses on both financial security and peace of mind.

Final Thought

Retirement doesn’t have to be a mystery. With the right plan, you can feel confident, prepared, and excited about your future. No matter where you are on your journey, the team at Clarity Financial is here to help you take the next step.

Ready to start planning for retirement?
Let’s talk about your goals, your savings, and how we can build a future that works for you.