Not a lot of us sit around at home and think about our retirement. For most of us, this is a distant concept and something we don’t consider on a daily basis. However, since retirement is something we all hope to reach, thinking about it beforehand is more than important. That said, retirement isn’t just about getting old and sitting on your porch with a cup of coffee in your hand. It’s a process that if not considered thoroughly, may leave us broke during our “golden years.”
So not only should we consider when to start saving for retirement, but we should also think about how much we need to save, what retirement plan to go for and so on. Considering all of these, the good people over at MedAlertHelp have researched and compiled an infographic, detailing all of the above-mentioned information and a lot more.
The main focus of the piece on everything to learn about retirement is to provide its readers with an easy understanding of retirement through various facts and stats, carefully researched and meticulously put together. Some of the information includes facts,
Average age of Retirement
Did you know that the average retirement age in America is ~59.88 while it is the highest in Libya at 71
Where your dollar would last the longest and shortest?
For example, although a lot of people might not be aware, Mississippi is the place where your dollar would last the longest—25 years, 11 months, and 30 days to be precise which makes Mississipi a great city for retirement. On the other hand, if you were considering retiring in Hawaii, this paradise comes with a price. It’s actually in Hawaii that your dollar would last the shortest—just 11 years, 8 months, and 20 days.
How much of Your Should You Save According To Your Age
Learn about key thumb rules about saving on income by the age that will help you with happy retirement. For instance, you should save 10X of your starting salary by age 67
Interesting right! The inforgraphic also also provides a careful detailing of the retirement saving plans, so that we, the people who never thought about it, can easily get a grasp of them.
Let me not make you wait anymore. I have attached a few key snapshots below but for a detailed look at everything about retirement, check the the infographic here.
Hope this was helpful! Let us know what information surprised you or made you ponder about your current saving and investment plans for your retirement.