Reply to How much do people have saved for retirement?

Forum Index » Money and Finances

Reply to "How much do people have saved for retirement?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Most of the posts on this thread are junk.  The starting question is how much money do you need?  As one PP said if you need $120,000 a year you are in good shape.

But for the people that say you do not need more than a certain amount ----- it all depends.  I have made near or over $1 million for a long time.  I am 5-10 years from retirement.  We do quite well.  We save a lot; we spend a lot.  I could decide to reduce the current lifestyle; I do not intend to.  As a result I would like 50,000 a month in retirement.  [/quote]

PP if you return, a question for you:  how much wealth do you think you need to save in order to have that kind of income and what age do you plan to retire on that number?  I anticipate needing a higher income than the $100K numbers and so curious what is your multiple.
[/quote]

4% rule is still valid if used right.  So $15 million somewhere around 60 (58-62ish).  To see how to apply it you should look at Mr. Money Moustache site.  Good financial info there just ignore all of the spending nothing for tp threads.  Some basics:  just because you retire does not mean that you do nothing.  It is likely I can do some consulting for some money part time and that defrays cost; in years with investment loss, take less; While 50k a month is wanted now, plan on 45k or 40k a month later in life so 50k through 78 say and then slowing move to 45k as you are probably doing less.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics