How much is enough for retirement? Archived From: Finance |
Hi Guys,
I was wondering in todays dollars how much you all think is enough for retirement? Ten years ago I used to think if I had a million dollars and my house paid for that that would be enough, today I lean towards $2 million or more.
What do you all think?
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DEPENDS (TM)
1 billion, give or take 1 billion. Even that might not be enough.
I say about 80% percent of what you make.
FWF, the new google.
I personally love this calculator: Firecal
depends on what kind of lifestyle you want in retirement
todays 2mil ~ a million 10y old dollars. so I guess your lifestyle did not change much.
basically people keep forgeting about inflation all the time( savings, salary, etc.)
so keep inflation in mind and use those calculators to crunch the numbers
Ten years ago ... a million dollars and my house paid ... today I lean towards $2 million or more
In turbulent times such as these days, I prefer to think in terms of preservation of savings, rather than growth. I am still counting on a higher interest rate environment somewhere in the not to distant future when cash will be king. So my outlook now is to not be greedy and lose our principal. Let's hope the world doesn't engage in hyperinflation or debtors will be kings.
rezzor said:I personally love this calculator: Firecal
That calculator rocks, I love using it.
About a bazillion yuan should get you by.
smason1978 said:rezzor said:I personally love this calculator: Firecal
That calculator rocks, I love using it.
Which, by the way, the calculator says you'll need to have saved up approximately 25 times your annual expenses. If you spend $40K per year, you need a million to retire.
2Cor521
How exactly does that retirement planning calculator factor in massive food shortages and the financial instability that results in our "new" global economy?
The models you all are using to try to answer this question are insufficient to factor in the results of unrestrained greed and government corruption. Am I suggesting that you shouldn't save for retirement? No, not at all. I am suggesting that a bank full of cash may not be all that is required to retire in comfort in the next 10 to 20 years.
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