People generally have 20 to 30 years of post-retirement life. With significantly reduced or even zero active income, maintaining an ideal living standard becomes a difficult challenge. A good retirement plan could help to ensure an additional source of income, handle medical emergencies and pursue life aspirations. 

Retirement age varies among people. What you have to consider is whether you have enough money to support your desired standard of living after retirement.

Individuals have different needs on retirement savings. You might want to take into account the followings when estimating your target amount:

• Your desired standard of living
• Inflation rate
• Future expenses such as medical & housing expenses

Apart from your personal savings, your income during retirement may also come from social security benefits, pension fund, annuities etc. Learn more from our advisors.