The phrase references a tool or resource associated with a personal finance expert, used to project the financial resources needed for life after employment. This tool, potentially endorsed or created by this expert, aims to provide users with an estimate of their required savings to maintain a desired standard of living during retirement. Functionally, it is a planning instrument that utilizes user-inputted data, such as current age, income, savings, and desired retirement age, to generate a personalized projection.
Such a resource is valuable because it allows individuals to proactively address potential financial shortfalls in their long-term plans. It provides a tangible forecast, motivating individuals to make necessary adjustments to their savings habits, investment strategies, or retirement timelines. This planning tool contributes to greater financial security during later life. The availability of such planning resources reflects a growing awareness of the importance of individual responsibility in funding retirement, especially given changes in traditional pension systems.
