Covering Your Monthly Expenses in Retirement: Estimate Them, Then Secure Your Income

The best way to make sure you have enough money to last you through retirement is to focus on the income you need to support yourself, rather than the "magic number" you’d need to save.

A fit female runner with white hair crouches in the ready position as if poised to start a race.
(Image credit: Getty Images)

How much money do you need to save for retirement? If you’re trying to calculate a dollar amount, you’re probably not looking at it the right way.

It’s hard to know how long a certain sum will last because of so many unknowns. Two variables are future inflation rates and how much you’ll earn on your money during retirement. And the biggest unknown is how long you (and your spouse, if you’re married) will live.

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Ken Nuss
CEO / Founder, AnnuityAdvantage

Retirement-income expert Ken Nuss is the founder and CEO of AnnuityAdvantage, a leading online provider of fixed-rate, fixed-indexed and immediate-income annuities. Interest rates from dozens of insurers are constantly updated on its website. He launched the AnnuityAdvantage website in 1999 to help people looking for their best options in principal-protected annuities. More information is available from the Medford, Oregon, based company at or (800) 239-0356.