How much you need to save for retirement
Follow this guide and work out exactly how much you need to save for a comfortable retirement. By Neil Faulkner How much money do you need to leave work forever? (Image: Fotolia) I'm going to give you one method for estimating how much you, personally, need to be putting aside for a comfortable retirement. You'll need to set aside a fair bit of time to do this, so bookmark this page for later if necessary. Step 1 - calculate your outgoings Many costs, such as raising children and paying the mortgage, should be long paid for when you go into retirement. Other costs, such as greater heating and water bills, and buying more newspapers, might go up. Some retired people need a fraction of what they needed when they were younger and others, particularly if they decide to travel a lot, need more. Use this quick budgeting tool to help you estimate what your outgoings will be when you're retired. Just enter all the amounts in toda...