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Estimating Expenses: Project your future living expenses, taking into account inflation and potential healthcare costs.
Assessing Current Savings: Evaluate your existing savings, including employer-sponsored retirement plans, personal investments, and other assets.
Determining the Gap: Calculate the difference between your projected expenses and current savings to determine the amount you need to accumulate.
Considering Inflation: Factor in inflation to understand the real value of your savings over time.
Understanding Your Retirement Needs
