I have a lot of clients ask me if they're on track to retire when they want and how much they'll need in retirement to avoid the risk of outliving your resources. These are all great questions and ones I answer as part of our comprehensive financial planning services. Earlier this summer I came across a great article in The New York Times written by Paul B. Brown and was I was moved.
After writing a few books on the topic of retirement in his 30s and 40s, Paul recounts what advice he would've given differently now that he's in his 60. His new "addendum" on retirement advice:
“...no matter how much money you think you are going to need, save another 15 percent, just in case.”