You Can't Even Begin to Plan for Retirement Without This Number

One of the hardest truths of retirement planning is that you're never going to get it right. Just like today's retirees never could've foreseen the pandemic and recession we're currently living through, there will be surprises that come up for you in your senior years, some of which may cost you a lot of money you hadn't budgeted for.

The key to successful retirement planning is not to get things exactly right, but to get as close as you can based on educated guesswork and to err on the side of estimating too high rather than too low. If you're still not sure how much you need for retirement, you can follow the steps below.

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Source Fool.com