Reply to Looks like I need 6.2M to retire

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]And maintain current $250K income. Well, I only have 3.2 at 53 outside of home (no mortgage). What’s the best way to manage the next 10-15 years to meet this goal?[/quote]

Spend a lot less than you make, try to make more, and invest the savings.[/quote]

This is 100% accurate!

Develop a budget for now and retirement.  Figure out your base budget (things you must have and cannot live without), then add in level 1 "wants" and then Level 2 "wants" and so on.  Decide what you can and cannot "live without".  
Decide where you want to live in retirement and find a way to reduce housing costs.  Do you really need to keep the 4 bedroom (or whatever) family home?   Or can you find a 2 bedroom condo/something much smaller in a lower cost of living area that you would like to live in?

Either way, you need a budget and to increase your current savings and/or increase income.

Also, your 3.2M should become 6.4M in about 7 years if most is invested in stock market.  (on average it takes 7 years to double investments).  
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