In the seemingly complex world of retirement, there are important numbers we should be aware of that could make or break our overall retirement savings. A recent USA Today article highlights 10 numbers that could make or break our retirement. Here we outline our top five.

41 percent. This is a surprising statistic that reveals the percentage of workers (or four in 10) who say they (or their spouse) have tried to calculate how much money they should have saved to live comfortably in retirement, according to a March 2017 Employee Benefit Research Institute’s Retirement Confidence Survey. That’s a relatively low number, given a good rule of thumb is to plan to have 10 times or more of your final salary in savings for retirement.

50. This represents the age at which you can make catch-up contributions to your retirement savings. The benefit of blowing out the candles on your 50th birthday is the ability to increase the amount you save in retirement accounts to the tune of $6,000 additional a year into a 401(k) or an extra $1,000 into an IRA.

8 percent. It may seem like a small number, but it could mean big savings for older workers who delay taking Social Security benefits beyond their full retirement age (around 66). Those who delay taking their benefits could increase their overall earnings by an additional eight percent each year until the full retirement age of 67.

$1,360. This number reflects the average Social Security benefit of approximately 41 million retired workers. It is important to understand that Social Security benefits vary by amount of time worked and the age when you enroll.

4 percent. On average, this is the recommended maximum percentage of assets we should plan to withdraw the first year of retirement. This is a general rule of thumb to ensure the nest egg you’ve worked hard to prepare will last for at least 30 years into the future. For example, if you’ve saved $1 million, you would plan to withdraw no more than $40,000 (or four percent) that first year. Then to help keep pace with inflation, you could increase that initial dollar amount by the inflation rate each year.

For questions or concerns about your retirement plan, call Anne Ramirez, an Investment Manager at Clarity Financial, in Tucson, to schedule a time to meet. Connect at 520-955-2495, [email protected] or CFSTucson.com. See ad, page 4.