If you ever want to retire from work (and not everyone does) then you will need to do some budgeting for retirement. This will allow you to know how much your retirement will cost and therefore how much you need to have saved.
But what do you include in this budget? What does your retirement lifestyle look like? If you’re in your 30s, 40s or even 50s, how do you know how much things will cost in the future?
Even though your budgeting for retirement will involve a lot of guess work, it’s better to have a plan and an idea than not. A plan will motivate you, give you clear direction and a goal to aim for.
Here’s how to start budgeting for retirement.… Continue Reading