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Are Your Retirement Savings Enough?

Make sure your retirement egg is big enough to handle unexpected problemsOften when people consider their

retirement savings, they think of how much they will need to live on while they aren’t working. Unfortunately, there is a lot more to consider when calculating how much money to save away. The Equifax Finance Blog points out many additional costs which need to be planned and saved for in a recent article, “

Preparing for the Worst: Evaluating Your Emergency Fund and Cash Savings.”

In addition to the normal retirement savings, like maintaining quality of life and preparing for trips and other fun, it is very important to plan for emergencies. A fund of anywhere from three to six months of expenses should be saved for emergencies and that is just the beginning. A fund of that size might get you through one or two relatively minor emergencies, but there need to be additional savings as part of your

financial goals, too. (Continued…)

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