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Jump-Start Your Retirement Plan in Just 30 Minutes – MoneyWise.com

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Conventional wisdom suggests that you need $1 million to retire — but for young families planning their retirement years, that nest egg shatters pretty quickly when accounting for inflation, rising lifestyle costs, and the expected (and unexpected) expenses of raising your family.

While retirement is a long-term goal, there are plenty of short-term goals to distract you from saving early. College savings, vacations, home renovations, and even your emergency fund can take precedent over building your retirement savings.

Many families don’t have the time to think about how much they might actually need, and one size fits all retirement advice further muddles how much will work for you.