By John Ostapkovich

BERWYN, Pa.  (CBS) – Big lottery jackpots like the one earlier this month are really exciting, but not good personal finance (unless, of course, you win!).

Mike Falco, founder of Falco Wealth Management of Berwyn, has come up his own winning numbers in the get-rich-enough-to-retire game.

The first number: 25. That’s the age to start saving.

The second number: 15, the percent you should aim to save, including employer match.

Number three is three, as in the expected inflation percentage.

The fourth number is a large one: 250,000, or the potential out-of-pocket health care cost.

Number Five: 760, an excellent credit score.

And the Powerball number: one, as in who to look out for.

Falco says you have to determine your retirement goal:

“You know, I might have somebody in retirement who says ‘I need $15,000 a month to live on,’ but then I got somebody else who says ‘I need $5,000 a month to live on’.”

And Falco says don’t borrow from your retirement to pay for the kids’ education or anything like that:

“Plan for retirement, your own retirement, first and that means don’t dip into your retirement accounts to pay for your kids college or your grandkids college. Think of it this way, are you really helping your kids if you leave debt behind?”

Falco adds that too many people fear they’ll never be able to afford to retirement, but doing something about it now, beats later.

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