The Dirty Secret Behind Your 'Retirement Number'

Everyone knows that if you truly want to have a financially secure retirement, you need to save and invest on your own. Because of this, people have tried to come up with what's called the retirement number: the target for how much money you need to save in order to reach the level of financial security you want. Yet in the debate over whether your retirement number should be large or small, many retirement savers lose sight of the fact that there is no one-size-fits-all retirement number that will work for everyone. To set a realistic savings goal, you must figure out what is important to you and what standard of living you want in retirement.