Retirement Planning is More than Retirement Savings Rates

Retirement planning is a complete system and you need sit down with your spouse, evaluate the status, and make a future strategy at least twice a year. fizkes/ShutterStock

When we talk about retirement planning, the most common focus is how much we are saving to support ourselves in retirement. Simplifying to one goal is a great way to get started, but planning for retirement requires a lot more than just picking a savings rate.

Here are some other considerations to think about when planning for your dream retirement.

What Does Your Lifestyle Look Like?

Before you dig into the details and pull out your calculator, do a high-level assessment of what you want to do in retirement. Will you continue to work, maybe part-time? Will you live near family, or will you want to travel to spend time with family?