Consider the Issues
The amount of income you'll need in retirement will vary depending on your lifestyle, health issues, tax bracket, retirement age, and cost of living, among other things.
Often you hear that you will need 70% to 80% of your pre-retirement income, but it is not uncommon to need 100% or more.
The chance that any individual will require long term care at some time is substantial. In fact, people of age 65 face as least a 40% lifetime risk of needing long term care.*
What you invest in will depend on how long you have until you retire — as you near retirement, you might consider moving from aggressive, growth-focused investments into more conservative, income-producing investments.
If you move to a sunnier locale when you retire, you may have to file income tax returns in two states, as well as face unexpected local income taxes.