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How Much Money Do You Need to Retire?

I Will Teach You To Be Rich 58 views

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This is only if you want to leave a legacy You can spend your principle if you don't have any heirs
Comment from : @Joe-xr3ir

Most retirees need $4K-5K/month
Comment from : @tmusa2002

This is great to know But I need to earn SO much more money to be able to retire comfortably I'm stressed, lol I started investing too late and earn too little I used retirement calculators and they basically told me I can't retire unless I start making a fuck load more money than I do now I need to figure out how to get rich
Comment from : @anabrightlight

4 rule takes into account inflation - u need to increase the amount to be withdrawn in the second year by the amount of inflation
Comment from : @LingChengGong

But how do you equate the travel trailer, quads and other junk toys into this equation 😂
Comment from : @baddboo

Do u calculate everything you spend in a year?
Comment from : @ohmy9007

Based on my current lifestyle and expenses, a $200k nest egg would be enough for me to retire
Comment from : @すずちゃん-r3h

Who does 4 anymore? I see people doing 7-8 and people doing 35 I am sure it’s clickbait and I am falling for it but 4 rule was created in 1993 and times have definitely changed brbrFinancial advisors today often recommend more personalized withdrawal strategies based on market conditions, life expectancy, and spending flexibility While the 4 rule still offers a useful benchmark, it may not be the optimal strategy for everyone in today's economic environment
Comment from : @FallenHoot

😅😅😅
Comment from : @jasd3583

Why 30 years after retirement? Are most people living to 95 years old these days?
Comment from : @cfav16

Factor for inflation when 200k a year is eventually harder to live on than 75k today
Comment from : @chazlyle41

Yes, $73,000 is 4 of $1825MbrBut 73 grand x 30 years is over 219M dollars How does that work?
Comment from : @Zachary_Sweis

Looks like I’m not retiring but working until I die
Comment from : @desmondhatchett7846

What about Inflation? How would you adjust for that?
Comment from : @aishwaryacdance

Bill Bangen updated that to 48 with a more diversified portfolio I think it’s a better calculation, and if you have a few really good return years when you first retire you could go 5 or 55
Comment from : @buckibanker

Or just multiple the yearly expenses by x25
Comment from : @EsbolinTaiwan

My husband and I are screwed 😅
Comment from : @sharontraywick6873

The way the cost of everything has been changing lately, this seems almost impossible to accurately calculate Who knows how much a rent, insurance, taxes, or even food will cost 5 years from now
Comment from : @KevinFuggi

This greatly depends on A LOT of factors
Comment from : @JP-iq7pu

How do you account for future inflation, while you are still in your 30s
Comment from : @IQLion

You need something that will give you 4 can that be real state ? When would someone have 2 million in the bank ? Plus you shouldn’t have a mortgage payment by the time you retire !!!
Comment from : @tinarubio6778

Wrong Logic and math is there but way more to this formula
Comment from : @JoeKeswick

Some people are going to have to work in retirement
Comment from : @souschef4489

I don’t hv that money
Comment from : @dorypulliam1404

Thank you for your valuable information, I learn so much from you
Comment from : @ahlamsaleh9983

What about inflation?
Comment from : @irenetassie7528

I'll retire with 250k N be good
Comment from : @Malaki727

Also what will 73k be worth in 20 years
Comment from : @frightenedrabbitfan

Including a mortgage in this is silly If you still have a mortgage, you aren't ready to retire A big part of planning for retirement is eliminating expenses like your mortgage and other debt payments, such that your housing costs are tiny
Comment from : @jordanmcgrory2171

4 rule is dead and debunked
Comment from : @christinehirabayashi9598

Two important factors are taxes and social security If most of your savings are in post-tax accounts this isn't much of a concern, but if it's in a traditional 401k you probably need closer to $90k brbrA couple whose income covered $73k in expense will probably make about $4000 monthly in SS payments If you're concerned about SS being reduced in the future perhaps go with $3000 monthly That gets you 40-50 there (depending on taxes)brbrSo you probably need $135 million in pre-tax accounts or $1 million in post-tax accounts Not over $18 million
Comment from : @kyleolson9636