When planning retirement, consider factors like longevity and lifestyle. Fidelity outlines four key guidelines for retirement planning, emphasizing the importance of working with a financial advisor. The longer you work and save, the less you’ll need in retirement. Social Security benefits increase with delayed retirement. Retirement age affects income needs and savings rates. Fidelity’s guidelines are based on age at retirement, income replacement, savings multiples, savings rates, and withdrawal rates. Researchers considered yearly savings rates, income replacement rates, and sustainable withdrawal rates. A financial advisor can assist in creating a personalized retirement plan. Fidelity’s guidelines aim to help individuals retire comfortably by determining yearly savings rates, savings factors, income replacement rates, and sustainable withdrawal rates.

Read more at Yahoo Finance: Fidelity’s Guidelines on How Much to Save and Withdraw for a Secure Retirement