Hope for Retirement

I don't foresee a world in which retirees are camped out en masse on the sidewalk.

Several months ago I got a panicked phone call from a TV news reporter. Fidelity had just released a report showing that people should expect to save eight times their final salary in order to enjoy a comfortable retirement. The reporter wanted me to reassure viewers that their savings needs weren’t really so extreme. Imagine what she would have thought if she had seen the estimate from another source that sets a benchmark of 11 times final salary.

In What's Your Retirement Number?, senior editor Jane Bennett Clark sorts out the numbers and offers some soothing advice: Don’t freak out. “The precise number isn’t as important as the overall message,” says Jane, which is to get cracking and save, however old you are.

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.