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Reply to "How much do you save?"
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[quote=Anonymous]I think you have financial independence when you have enough saved that when you draw it down by 4% a year you maintain the lifestyle you desire. So if your annual expenses are $500,000 then $12,500,000 is a good target. I don’t know how old you are but if you are saving 40% a year and are investing wisely you should do fine. We always were aggressive savers, though I don’t know the percent, and we never really had a retirement target. My husband enjoyed working but when work weariness set in at 60 he retired at which point we probably had 2-3 times what we needed to maintain our lifestyle. Our spending in retirement is higher than our spending when we were working. [/quote]
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