How Much Money Do You Really Need for Retirement?

Planning for your retirement is one of the most important financial steps you will ever take. The big mystery that may be looming over you is how much money you will really need. The answer is different for everyone, but there is a straightforward way of calculating what your savings should look like.

Watch this video to find out how you can set a retirement savings target for yourself. Start by figuring out your likely expenses during retirement. Then, find out how much money you will be getting from Social Security and any pensions you have. You will need to make up the difference between your expenditures and income with your savings. 

At GCS Credit Union, we offer a range of products to help you maximize your savings. Learn more by calling our O’Fallon credit union today at (618) 797-7993.

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