When you’re planning your retirement on your own, there are several things you should take into consideration to ensure that you’re not missing out on key savings.

Your goal is to retire at age 67, which is Social Security's full retirement age for anyone born after 1959, and maintain your pre-retirement lifestyle. You'll limit your annual retirement withdrawals to 4% to 5% of your initial savings balance.

Many people who retired earlier than planned, 35%, did so because of a hardship, such as a health problem or disability, according to the EBRI survey. Another 31% of them retired due to "changes at their company," such as a layoff.

When it comes to saving for retirement, there's often a lack of clarity about how much is needed, at what age you should retire and how long that money will last. That's because the answers to those questions are based on personal circumstances.

The first is that the survey only included data on workers who have been with the same employer and the same retirement plan for at lea

If you are in your 60s and feel like you have not saved enough for retirement, you are not alone. Many people in this age group realize they may need to catch up on their retirement savings to ensure they can enjoy their golden years comfortably.

Saving for retirement is one of the most important financial goals you’ll ever set, and knowing how much to save can feel overwhelming. Whether you’re nearing retirement age or planning ahead, understanding general retirement savings guidelines can help you prepare for a financially secure future.

With costs rising and retirement becoming more expensive than ever, it's critical to make the most of all the tools in your toolbox to save as much as possible. The 401(k) is a powerful way to save for retirement,