How much money would you need to retire and live comfortably?
- Thread starter PatCake
- Start date
RickyDiBiase
The Sword of Jesus of Nazareth
That's why you have kids.
Target number is 3 mill. 15% goes to the Roth 401k for tax shelter purposes. 6% company match as well.
Wife contributes 15% to her retirement account
Maybe looking for 5m combined
I have a personal brokerage with some stuff that I've accumulated over the years on top of that, but I can break into that at any time
Compound interest is the 9th wonder of the world.
Life can come at us at any time and throw any planning I've done off. That's the scary part. The unexpected event.
But all any of us can do is plan the best we can
Wife contributes 15% to her retirement account
Maybe looking for 5m combined
I have a personal brokerage with some stuff that I've accumulated over the years on top of that, but I can break into that at any time
Compound interest is the 9th wonder of the world.
Life can come at us at any time and throw any planning I've done off. That's the scary part. The unexpected event.
But all any of us can do is plan the best we can
UncleTomFord15
Veteran
10 mil bare minimum
Yeah that’s solid $150,000/yr for 20 years. You don’t need that much but just counting
The Radiant One
Superstar
But if your kids have kids with the way things are going they won’t be able to take care of you and usually they can only take care of the mother
weather so breezy
All Star
couple millions
Bigblackted4
Superstar
4 million
I would put 1 million in the market and live off about 100-150k a year
I would put 1 million in the market and live off about 100-150k a year
beenz
Rap Guerilla
2M in cash can easily make you 80K annually off no risk earning a mere 4% annually. given ur house is paid off, that's plenty to live whether ur single or married.
RickyDiBiase
The Sword of Jesus of Nazareth
Family's have been through worse and endured that shyt. My family for the most part sticks together.
Right now? For all I know I might live another 50+ years, so at least two mill. At that point I can put it somewhere and live off the interest.
If I was in my 60s or 70s I'd have fewer years in front of me, so I could probably get by with like 700k if I didn't do anything stupid.
If I was in my 60s or 70s I'd have fewer years in front of me, so I could probably get by with like 700k if I didn't do anything stupid.
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this... if yall use a retirement caluculator... you'll see that this is what is needed. plus factor in inflation.... if rent is $1500/$1800 on average in 2024... in 30-40 years it'll be at least $5k I bet
