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Retirement may be even more expensive than you think Retirement investors need to save more than conventional wisdom calls for to meet their basic income needs during their golden years, according to Richard C. Marston of the University of Pennsylvania. In fact, the often-cited estimate eight times current earnings may be far too low, he says. Instead, retirement savings should be about 15 times more than the current salary for clients to have adequate nest eggs, says Marston, author of "Investing for a Lifetime." Retirees' spending behavior can be expected to be very similar to their pre-retirement years, the expert explains. --New York Times
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