It’s that time again! Moms on Money is a collaborative effort between Femme Frugality and More Than Mommies to answer the financial questions of real mothers. This month’s question comes from Lisa at The Dose of Reality:
Although we’re far from retirement age, I still wonder: how do you determine how much money you need for retirement? Right now we contribute to our 401Ks (which took a beating in 2008 in a way that will make me rock in the corner if I think about it too long) but we’re primarily saving for our kids’ college right now. Once they go we’ll be able to save more toward retirement, but will that be enough time to avoid working until we’re 90? How do we know how much we need to safe up for retirement?
To see what they said head on over to More than Mommies!
If you’re a PF blogger and have some input, we’d love to see it in the comments section over there!