johnroder1
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i won't tell you hom much i have but it's several million and i can tell you just that one day the money doesn't matter and i like to work every day becuase i enjoy it, do great things for people, give to charity, and take time off and go whereever i want however i so choose. it takes less than one would think and i'm well past that point but it seems you have to go way past it to know where it was - a few million ago. |
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Bill
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It depends on how old you are.
If you are young you will need more money to pay for stuff like health care.
If you were in your 20s I would imagine that you would need 5 million to retire comfortably. |
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VATreasures
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It think probably 1.5 million to retire now(late 20s). |
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Reticent
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It all depends on many factors. I can tell you that before you retire all your bills must be payed, including your house, car and so on. Then you must have a nice 401k and a good pension. If your income can cover all your monthly bills and you still have enough to do the things you like to do regularly, then you are ok. If not, you might want to wait until 62 and collect social security to augment your income. I retired with over 1 million dollars in assets and I live very nicely. |
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churchofjohnnycash
 |
More. |
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naturalway42
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Approx 1 million.
1 million gives $4,000 - $5,000 a month for use. Assuming you use $2,000 a month; you can redeposit back the remainder each month.
That will take care of inflation (since even if your lifestyle remains the same the $2,000 a month will keep steadily increasing).
+ it will also cover some emergency money - you never know.
Rightly the million dollars is therefore called a retirement amount.
i.e. if someone has 4 million dollars, sometimes they jokingly say - I have retired 4 times.
I would need exactly that or I will have to keep working. |
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sugaalolly
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well.. i'm young so I imagine i would need a billion...living expenses are high.. the retired are having it rough as it is.. **sigh.. |
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One of the Baldwin brothers
|
None see, I am a pirate, and I pillage ports and ships, I have enough loot to last me a lifetime in hell, next to old Hob..Savvy? |
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????????????????????????
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60 billion |
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DX
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Just enough is fine with me. |
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Ricky G
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a million cajillion zizillion dollars |
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katievsworld
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i wouldn't need money, maybe about 20 for the first week but i would definitely go homeless. people do it all the time here. they live for free and we feed them at taco bell. bums are so awesome and i would live in my car. and i would be a prostitute to get gas money. especially if i was hot and old at the same time. my grandmother is extremely hot...well everyone at the retirement home thinks so. so i think this is very possible. |
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KA
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Too scared to think about it I know I won't have enough |
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timwarris
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Retiring without worrying, when your 6 feet under. Having money will be the down payment! |
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littlebui4lh
 |
I would need a minimun of 20 million. To live in luxery and style. With a big fancy home, sweet job, maides, and all time and joy in the world. Ahhhh. Keep dreaming. Wonderful |
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chuckiebaby13
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age ranges 20-30 6-7 milion
30-40 7-10 million
40-50 3-10 million
50-60 2-6 million
65 your already retired |
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CuriousGuy
|
A good resource is www.bankrate.com. In their calculators section you can try different scenarios. The main questions you need to answer are: how long before you plan to retire, how long from that point onwards do you think you will live (need money), what is your current and planned savings rate, and how much do you need to live the manner of lifestyle you desire. The last part, which is less certain is the rate of growth of your investments (savings) relative to the rate of inflation (increases in cost of living).
One piece of advice; when you think about your monetary needs take into consideration that certain costs will go down closer to retirement (i.e. home mortgage payments if you plan to buy and pay off a home), others will go up (medical costs).
Good luck |
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