The Retirement Risk Most Investors Overlook Could Leave You With Too Much
If you think you can never save too much money, you may have fallen into a retirement trap.
Overview
How much is enough? That's a really important question when it comes to saving for retirement. You can compare your savings to other people's nest eggs or use a rule of thumb, like 10x your salary, but the answer to how much is enough is highly personal. If you don't come up with an answer, however, you could risk having too much money, which could be bad for your retirement and your heirs. Here's why.
In order to save money, you need to spend less than you earn. That's simple logic, but the delayed gratification this requires is an important emotional skill. You are, in effect, willingly putting off the pleasure of using your money today so you can use the money in the future. Along the way, you hope to grow the size of your nest egg by investing your savings.
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Source
Originally published at www.fool.com.