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[quote=Anonymous]If under 54 add $200-300k for medical expenses

FINANCIAL SAMURAI 401K RETIREMENT SAVINGS GUIDELINE

Age	Years Worked	Low End	High End
22	0	$0	$0
23	1	$8,000	$17,000
24	2	$25,000	$37,000
25	3	$42,000	$70,000
30	8	$127,000	$182,000
35	13	$215,000	$331,000
40	18	$300,000	$521,000
45	23	$383,000	$764,000
50	28	$468,000	$1,075,000
55	33	$553,000	$1,470,000
60	38	$638,000	$1,974,000
65	43	$723,000	$2,618,000
From the results, we can conclude that even after 43 years of consistent saving, you only have around $723,000 to $2,618000 in your 401K.  Let’s say you live for 20 years after retirement, you only get to live on $36,000 – $131,000.  If goodness forbid you live to age 95, then you can only live off of $24,000 – $87,000 a year!

We know from simple economics that thanks to inflation, a dollar today will not go as far as a dollar 40 years from now.  Private school tuition will probably cost over $100,000 a year in 20 years, so who knows what medical, food, shelter and energy costs will cost then.  One thing is for sure, prices will be much higher.
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