Reply to How much do people have saved for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I just used a retirement calculator available online and it said that we need to save $1,330 per month for retirement based on what we have saved now. We are beating that significantly annualized. It expects that we will need 9M to retire! That seems overly optimistic and a bit nuts. I feel like you can drive yourself crazy with these calculators, esp. if you are under age 40.

[/quote]

Garbage in, garbage out.

You did not put in accurate numbers if you got $9M out.  Unless you have multiple homes and expect to need a ton of disposable income.[/quote]

Those calculators assume 80% of income generally.  Most people aren't going to need to spend 200k a year + in retirement

Also most of your expenses should be done kids, college, mortgage plus SS I still stand by my original numbers

If you aren't in DCUM land 1 million is plenty to retire on for the vast majority of folks. and really 500k is fine too.  The average retiree in America has under 500k in retirement savings at retirement and does fine.[/quote]

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