The Four-Step Guide To A Comfortable Retirement

Investing and pensions

Updated on 16 December 2008 | 1 Comment

We've tidied up a recent series on pensions that helps you to work out what income you'll need when you retire, what pension pot you'll need and how much you'll need to save each month to get there! It's all in this guide.

In this three-part guide in four parts*, I'll help you to work out what you need to save for retirement.

I suggest you carry out this exercise at least once a year, to ensure you remain on track for a comfortable retirement. It may take a couple of hours to complete, but that's time well spent!

1. Work out what retirement income you need

In part one, I'll show you how to work out what annual income you'll need when you retire:
You Can Retire On Less Than You Think

2. Adjust your income for rising prices

In part two, you'll learn how to add on the cost of rising prices (inflation) to your target annual income...It's not as scary as it sounds!
The Menace Of Inflation On Your Pension

3. Work out what pension pot you need

In part three, you'll use your workings from part two to find out how large a retirement pot you should be aiming for:
Work Out What Pension Pot You Need

4. Work out what you need to save each month

And finally, part four shows you how to work out what you need to save each month in order to get your target retirement pot:
How To Retire In Luxury

Ready? Great! Go to part one. If you need help at any stage of this exercise, ask the wise Fools on our Pensions - Practical Problems discussion board.

*It'll all become clear by the end.

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