I was reading an article today on USAToday about the amount of money to save/invest for retirement. According to this article, to live comfortably after retirement, a basic number to start with would be $82.28 per day. This does not count for inflation and makes some assumptions about the rate of return of investment and kind of lifestyle you would have after retirement.
It's a good number to start with but it's a hard number for a lot of people to accept - $2500 per month. A lot of people's monthly income after taxes is $2500 - how can they save $2500 per month.
Hopefully, this number does not discourage people from starting to save, however. Every dollar counts - how much ever you can put away every day matters.
Ask Matt: To live well in old age, invest $82.28 a day - USAToday
