Planning for retirement can be tricky. None of us want to run out of money. It starts with a budget. You need to understand how much you are spending today.

You need to factor in all of your income such as Social Security and Pensions plus any retirement savings.  I use software that factors in inflation to identify any gaps in income through your retirement.  Most of us have to plan for around 30 years of retirement.  The cost of medical coverage will change when you stop working.  Some COBRA coverage through work until age 65.  The limit for COBRA is 18 months.  There can be a gap between work medical insurance, COBRA or other coverage, and then Medicare and a supplement.  You may have rental property that will be sold at some point.  There are a lot of variables that I can plug into the software to help you determine when you can retire.  The date you retire doesn’t have to be the same time you collect Social Security.  Everyone’s situation is different.