Q: I’m 40 and have $75,000 in my 401(k). Am I on track to retire comfortably?
The short answer is that it depends what you mean by "comfortably."
The longer answer is that it isn’t as much about hitting a specific dollar amount as it is about being able to replace enough of your income to maintain your standard of living.Experts generally suggest that you’ll need about 80% of your salary after retirement to avoid sacrificing your lifestyle. This isn’t a perfect rule — after all, if you’re used to living a frugal, savings-oriented lifestyle, you could probably retire comfortably […]
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