How much money do you need to retire?

Webbed · 08-13-2007, 02:16 PM

How much money do you think you will need if you were to retire now?

In other words, how would you spend your free time and what will it cost to do that (or more) for the rest of your lives?

I was surprised to see what I would need. If I lived to be 100 (which is 65 years from now), maintained my current standard of living (assume a 3% annual increase in spending), assumed a modest 5% return on investment (very modest), then I would need $6 million!

If I were to increase my annual spending by 4%, I need $8 million!

OK, I'd better start buying lottery tickets..... or keep working.

So, what would I do.... my wife and I are going on a cruise later this year, and I thought about what it would be like to spend a whole year on a cruise, seeing the world. I would like that.

08-13-2007, 02:16 PM	#1
Webbed JKF Member Join Date: Feb 2007 Location: Bay Area, California Posts: 170 Rep Power: 212	How much money do you need to retire? How much money do you think you will need if you were to retire now? In other words, how would you spend your free time and what will it cost to do that (or more) for the rest of your lives? I was surprised to see what I would need. If I lived to be 100 (which is 65 years from now), maintained my current standard of living (assume a 3% annual increase in spending), assumed a modest 5% return on investment (very modest), then I would need $6 million! If I were to increase my annual spending by 4%, I need $8 million! OK, I'd better start buying lottery tickets..... or keep working. So, what would I do.... my wife and I are going on a cruise later this year, and I thought about what it would be like to spend a whole year on a cruise, seeing the world. I would like that.