The more you know your current position, the clearer it gets!
Now with information you have, do the following estimation:-
1. Compounded at certain percentage the amount you have now
2. Estimate your future income (now until retirement) and how much could you further save in coming years, add it up
3. Add up 1 & 2 above minus how much do I need upon retirement (see Then the Retirement Fund)
4. If your answer is positive, congratulation. Ensure your plan and your retirement fund is secured
5. Else, a negative means you need to plan to make up the setback
Is this a definite target, the answer is NO. Everything move in relative towards one another. Inflation may set in, unexpected company bonus, financial crisis and rising investment returns can happens along the way. These plus and minus will definitely happens but knowing your own situation and what are the targets year on year surely helps a lot in your journey.
Nothing beats the peace of mind!
If your position is everywhere, your momentum is Zero. --Michael Korda
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