How much money will you need to retire? If you’re like the majority of Americans, you don’t know the answer. But experts use a quick rule of thumb to gauge how much you can spend. They suggest a safe withdrawal amount each year is about 4 percent of your savings, meaning you’ll need about 25 times your annual spending when you hit retirement age. A 2022 Bankrate survey shows that 55 percent of Americans are behind in saving for retirement. Another 10 percent aren’t sure whether they’re on track or not. Learn more

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