E2: Is my 401(k) on track? How do I know if I’ve saved enough for the future?

Most people view their 401(k) as a mysterious number, but “on track” is a relative concept. In this episode, Mark fields a question from Chris in Des Plaines, Illinois, about how to measure retirement readiness. Instead of focusing on a grand, arbitrary number, we show you how to back into your goal by examining your actual anticipated expenses.

You’ll learn why your lifestyle in later retirement might be less costly than you think, and how a simple math equation can help you determine the exact size your nest egg needs to be to support your goals. We also touch on the “sneaky” inefficiencies of 401(k)s, including how social security taxation can catch you off guard if you haven't planned for tax-efficient income streams.