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Its one of the main principles used by a lot of workers and their advisors forretirement planning.
Heres an interesting way to think about it.
Lets dig a little deeper into where your net worth should be come your golden years.
Net Worth
Net worth can be a helpful factor in planning for retirement.
Keeping that in mind, it can be helpful to look at age-related goalposts for retirement planning and saving.
Say you have a $50,000 salary.
Thats because its generally recommended to lower your debt as much as possible before you retire.
You may be able to downsize or refinance your mortgage.
Those steps could help you with debt as you face life with afixed retirement income.
These are general guidelines, and it can be helpful to talk to an advisor.
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