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Reply to "What NW would a person need to retire by age 30 in a HCOL area? "
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[quote=Anonymous]Obviously depends on how you want to live. One rule of thumb is that you can withdraw 4 percent of your wealth. That's far from perfect, but it gives a ballpark. Poverty line for a single person is about $13,000, so if you wanted to live on 2x poverty, you could theoretically retire with $650,000. Adjust based on how much you want to spend - e.g., $100,000 in spending would require somewhere around $2.5 million. Adjust again on whether you own a home and whether you include that in your wealth.[/quote]
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