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+--- Thread: How Much $$$ To Retire? (/thread-32.html)
How Much $$$ To Retire? - FlyEaglesFly - 02-25-2018
Regardless of what age you want to retire and not including things like social security benefits, how much money in savings do you think you need to retire?
I think $1.5 million is a fair number for myself.
At $40,000 a year it would last my from age 50 to age 87.5
Though if I retired at say, 65, a total of $1 million might work as well. Though there are a lot of factors involved that vary from case to case.
How Much $$$ To Retire? - Empire - 02-25-2018
If I was to retire at an good age, I like to have a good $250,000 in the bank, I be happy with that. I mean if you are very rich I be unhappy. regards yearly payment amount, I say an good 30k or 40k and that will be good.
With that I will go on holidays 4 times a year lol
How Much $$$ To Retire? - FlyEaglesFly - 02-26-2018
If I ever get that rich, I will do my best to not "live rich". I will probably keep most of my money saved up and stashed for emergencies.
How Much $$$ To Retire? - SS786 - 02-27-2018
I don't think there won't be any amount that would be enough as value of money is decreasing with ever day. Also money is never enough so best to add more and more to lead a comfortable life
How Much $$$ To Retire? - InMyOpinion - 04-03-2018
[quote quote=533]If I was to retire at an good age, I like to have a good $250,000 in the bank, I be happy with that. I mean if you are very rich I be unhappy. regards yearly payment amount, I say an good 30k or 40k and that will be good.
With that I will go on holidays 4 times a year lol[/quote]
If you don't mind me asking what is a "good age" to you? Also how long do you have until you retire?
30k or 40k does sound like a reasonable amount to have per year of retirement if of course you have your mortgage paid off and you have no debt.
[quote quote=538]If I ever get that rich, I will do my best to not “live rich”. I will probably keep most of my money saved up and stashed for emergencies.[/quote]
That's a millionaire way of thinking. More that 85% of millionaires don't live the "rich" life, they tend to still be frugal even if they have millions in the bank because they know that if they spend their money faster than they are making it they will not be wealthy for very long. I agree with your thinking.
[quote quote=588]I don’t think there won’t be any amount that would be enough as value of money is decreasing with ever day. Also money is never enough so best to add more and more to lead a comfortable life[/quote]
What amount a year do you feel like you'd be able to live a comfortable life?
<strong>As for me, seeing as though I am 25 years old and would like to retired when I am 75, that gives me 50 years to save for retirement. I would want to have at least 2 million saved before retiring as I'm not sure how long I'll live and I'd rather have money left over then short on money. I don't live an expensive lifestyle though I do want to be able to help my grandchildren (if I ever have any) through school.
RE: How Much $$$ To Retire? - Enyi - 05-12-2018
Well,personally I think no amount will ever be enough not with bad economy and skyrocketing prices one is faced with daily especially in my country. I believe investing the money to be yielding annual interest is better than just keeping it to use daily, it might get exhausted before time and one might start running into debt,so one can retire and still invest the retirement sums
RE: How Much $$$ To Retire? - uyai - 05-12-2018
i believe we can get all the monies we can get during and after our retirement because we will need it to help us stay afloat especially in running days.The fact remains that money is never enough no matter how much we retire with,the sure way will be to still invest,it might not necessarily be a business,it can be on anything that might yield more interest maybe a government bond.
RE: How Much $$$ To Retire? - myblogger - 05-12-2018
It good to have big money on hand if you're going to retire because you can use this money to put up a business for your family so although you're already retired from work there is still money coming in your pocket that can be use for the needs of your family.
RE: How Much $$$ To Retire? - Mozzie - 05-12-2018
In today's world, it is really expensive to live, and it is going to get worse, most seniors now rely on a government payment just to get through the week, it is sad. Saving for retirement against the governments never ending attack on pensions and taxes are making it hard and will continue to make it harder
RE: How Much $$$ To Retire? - Alexandoy - 05-18-2018
For a lower middle class family like ours, the target amount for a comfortable retirement is $400,000 which is around 20 million pesos. Placed in a bank deposit, the interest cannot sustain our expenses but the money will certainly last for me and my wife until we we die of old age. Unfortunately, the projected money that we would get upon retirement is just half of that amount so we have to work some more even after retiring, maybe 10 more years just so our nest egg will not be depleted at once.