What factors should I consider in setting my retirement goals?

What factors should I consider in setting my retirement goals?

In setting your retirement goals, one of the most important considerations is: how much money are you going to need for retirement? There's a lot of issues that would go into that. But it's really just your everyday cash flow needs for your life. You want to think about your health; if you're healthy, is it possible that you might have a really long life? Are there health issues in your family that might necessitate the need for some type of long-term care or protection? Also, how might you feel about charitable giving? How might you feel about your children or your grandchildren, maybe helping out with college funding for grandchildren? Do children or grandchildren maybe need help with a down payment on a home? I think you need to kind of set out an overall philosophy: here's what we need. And especially if you have extra money, what are the priorities in our lives, now that we're retired, on what we might want to do with our extra capital?