top of page

Financial Literacy Month: How to save for reitrement.

As you begin to think about your golden years, the inevitable question is "how much do I need to retire?" There is no one-size-fits-all answer to this question, it all depends on what YOU would like to do while in retirement.

So where do you start? Let's figure out how much you really need for retirement.

There is a simple calculation to help you with this decision: > Take 70-80% of your current annual income. The take the result and multiple it by 25, the result is what you need to save for retirement.

Here is an example:

  • If your current income is $75,000, 70% of $75k is $52,500

  • Multiplying $52,500 x 25 equals $1.312 million >>>this is the amount that you need to save to retire.

Check out the FREE retirement calculator (LINK IN BIO) to help you determine how much you will need to save for your dream retirement.

Join us on Tuesday Nov 22, 2022 at 9am PT/12pm ET for a Financial Literacy Webinar where we will cover 5 smart money moves (from saving & budgeting to retirement) and help you gain financial confidence in an interactive, fun, and non-intimidating way.

To learn more about Beverly and Bacon & Heels, read the "Power 5" interview that we did with her in September 2021 - you can read the full blog post HERE.

Thank you for your contribution Beverly!

Contributed article by Beverly Wilks, tech marketing executive, financial literacy champion and blogger at Bacon & Heels.


7 Kommentare

As we celebrate Financial Literacy Month, it's crucial to not only focus on saving for retirement but also on smart financial decisions that extend beyond traditional investments. Exploring alternative ways to grow your savings, such as exploring salvage car auctions like those offered by, can be a strategic move. These auctions offer a unique opportunity to potentially find vehicles at competitive prices, which could be a part of diversifying your investment portfolio. It's all about making informed choices that align with your long-term financial goals.

Gefällt mir

If traditional banking is the mainland of finance, then cryptocurrency is the desert island – remote, less governed, and brimming with secret spots for treasure. It’s where the brave cast away their financial fears and embrace the solitude of sovereignty over their assets. For survival on this island, a tool like becomes your multipurpose knife. OWNR Wallet helps you navigate the treacherous terrain of crypto markets while keeping your precious coins stashed in a virtual cave, far from the reach of modern-day pirates. In this island adventure, it’s not about finding a rescue – it’s about thriving in the newfound freedom the landscape offers. Build your shelter, forage for your sustenance, and watch your trove of digital doubloons grow.

Gefällt mir

I've never been concerned about money because I'm used to getting more enjoyment out of life. doodle jump

Gefällt mir

Red Arrow
Red Arrow
24. Nov. 2022

I have never worried about the financial problem, as I have always been used to getting more pleasure from my life, primarily from traveling. Now I have started to travel and use the opportunity to use food tours. I recommend you to try secret food tours. You will remember this experience for a very long time. Good luck!

Gefällt mir

Heather Rivera
Heather Rivera
17. Nov. 2022

great! Eggy Car

Gefällt mir
bottom of page