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Having a clear savings target can help you build a secure financial future.
Sources of retirement income such as Social Security or pensions can help reduce the total amount of savings needed.
This means many retirees still need to supplement their income with personal savings to reach $60,000.
But times change, and so do market conditions.
In fact, the study found that a safe withdrawal percentage this year would be 3.7%.
Its a good reminder to stay flexible and adjust your plan as needed.
This means you dont need separate inflation calculations your portfolios growth is designed to keep pace.
