We want to have $5 million saved by the time we're 62 - what can we do to improve our odds?

Setting retirement goals is essential, but they must be specific. Instead of vague aspirations like 'retiring rich,' aim for tangible targets like 'I want to have $1.4 million in investments that I can withdraw X% each year.' This clarity enhances your ability to strategize and achieve your objectives.

Asset valuation at retirement is less important than financial security. Merely accumulating assets without a plan to ensure they serve your financial needs can be detrimental. You can't eat your assets; focus on cash flow and ensuring your investments generate sustainable income for your future.

Read at 24/7 Wall St.