I believe that creating a comfortable retirement is the ultimate financial goal.

That's because it requires a considerable nest egg to provide a reliable income for life.

However, determining how much to invest for retirement and what income you'll need can be challenging.

This podcast will review key retirement planning variables, potential sources of retirement income,

and the amount an average person or couple needs for a secure future.

You'll learn what it takes to retire with over $100,000 of annual income. Welcome back to

Money Girl. This is episode 936. I really appreciate you spending some time with me. If you haven't

been here before, I'm Laura Adams, an award-winning author, a spokesperson, money speaker, and founder of The Money Stack.

That's my substack newsletter. I've been providing personal finance and advice on this podcast

weekly since 2008 with over 44 million downloads. You can learn more, ask questions,

and sign up for the money stack at laura d adams.com. Newsletter subscribers automatically

receive my money success toolkit with the exact templates that I used to manage my money.

So I hope you'll download that and enjoy it. So why do we need to save for retirement? Well,

you know, most people are going to reach an age when they're ready

to slow down or they're just unable to work due to poor health or maybe lack of opportunities

as you age. A secure retirement is one that provides enough income to maintain your desired

standard of living throughout your entire life. Many financial planning experts

recommend having at least 70% to 80% of your pre-retirement income after you stop working.

For instance, if you earn an average of 100,000 per year in the years leading up to retirement,

a good target is having at least $70,000 per year in the years leading up to retirement, a good target is having at least $70,000 per year to be comfortable in retirement.

But I will say if you have high aspirations for retirement, like owning a vacation home, leaving a legacy for your family, or traveling extensively, there's nothing wrong with planning for income that exceeds 100% of your pre-retirement income. So everybody's goals are unique.

Let's go through some typical income sources and how much you'll need to ensure you never run

...