6. How to Stop Working Someday: Saving and Investing for Retirement

If you can live on $1,000 a month, then you can skip this chapter. That’s about how much Social Security pays the average retiree.

Most of us will want a less spartan lifestyle in old age, which means we must save some of our current income for our future needs. Figuring out how much to save and how to invest it isn’t really rocket science. Although plenty of variables are involved, the average person can manage to accumulate a substantial sum simply by contributing regularly to retirement accounts, staying diversified, and not pulling out in a panic when markets swoon.

The time you need to talk to an advisor is when you’re closing in on retirement. Several times in this chapter, ...

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