Dare to dream
Everyone has dreams of what their retirement years will be like. Will you be hiking in the Himalayas or sunning down south? Where will the money come from to fulfill these retirement dreams?
Before we answer that question, let’s look at how much money you will need to fund your retirement. To maintain your current lifestyle, the general rule is that you should aim to replace 70% of your pre-retirement income. However, hiking in the Himalayas may run you a bit more than your current lifestyle costs.