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The answer is "yes" if you've saved enough, but the reality is that many individuals are not saving enough to be ready for retirement. It's important to know what's realistic so that you don't risk being unprepared for retirement now or being unable to keep up with inflation.

To answer this question, you must first talk about why it's important to save for retirement and then focus on the big picture. Start by choosing a number of years until you plan to retire and calculate how much money you need in your retired life based on current spending habits. This will give you an idea of what you need to be able to save. Then, compare your income with the budget that you use to calculate how much you can save each month. If there's not enough money to go around now, reflect on what has changed in the last 5–10 years (e.g., changes to family structures/income/location) and make a plan for how you can feel more confident about retirement.

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