Rules for how much you should have saved for retirement vary depending on the source, and it can be confusing to know which rule to rely upon. As someone over the hump of 50, retirement feels both far away and like it will be here any day to me. To help me get a sense of a baseline, I asked ChatGPT what is the bare minimum that I should save for retirement — and some general guidelines for the average person, too. These Are the Widely Cited Guidelines First, ChatGPT shared some of the “widely cited gui ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Selling your home to downsize can make your retirement more financially stable, but if you have a profit on the sale you might owe capital gains taxes. Fortunately, in many cases those selling their primary residence who are single can exclude $250,000 from capital gains taxes, while married couples filing jointly can exclude $500,000. Employing this exclusion can reduce or eliminate capital gains taxes si ...