Kiplinger

Why Retirement Planning Must Start at the End (and Why Many Do It Backward)

Stephen Covey, the author of The 7 Habits of Highly Effective People, advises readers to begin with the end in mind. After all, how can someone progress toward a goal if the goal is undefined? Unfortunately, that's exactly how many people approach the biggest goal of their lives: retirement.

Some 70% of Americans feel they have inadequate retirement plans, according to a 2018 . They don't know how much money they'll need, causing them to end up like the anxiety-plagued investor in one of TD Ameritrade's commercials. Though she saves on a regular basis, she has no idea if it's enough. She has recurring dreams of having to work at age 85 wearing a hot dog suit. Her fear is put to rest when her financial

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