How much do you need to retire?

**hamburger68** · 03-21-2008, 08:51 AM

^^^

**ss~zoso~ss** · 03-21-2008, 10:34 AM

1 million + SS if its still around + government pension

+ part time job (to keep myself busy)

**jad628** · 03-21-2008, 10:58 AM

I heard/read/watched a story about how $2M is the MINIMUM amount most investors say an American has to have to retire without major worries.

Maybe, but I don't think it's realistic.

Average American making $50,000 a year WORKS twenty years just to EARN $1M gross. Therefore, the numbers don't add up, that is unless you make substantially more than that.

Being a government employee, I have great benefits including a State pension, 401K (which my employer adds 5% of my salary to, in addition to what I put in), 457, pledge fund, and several educational IRA's for my kids. Healthcare (for me) is covered after retirement, but I have to pick up the rest of the families.

Add all that together and, after thirty years, I have enough to squeak by. I can live out my remaining life in relative comfort, but not pampered. Of course, that's at the ripe old age of 47 to maybe 50 at the latest.

Having said that, I will likely seek other employment when I give up the badge to put on a plaque.

My guess is 3-4 million (total) would be necessary to really be comfortable at retirement, and that ain't likely for me (even if my investor is competent).

**bandit95** · 03-21-2008, 12:10 PM

i could do 1 million and take some part time work to build up money else where, or even a good full time job for 5 to 10 years and bank all the money i made and let it collect interest and double a couple times.

**Shermanator86** · 03-21-2008, 12:21 PM

i say 2 mil cause i'm young and dumb with money, buy the time i was done blowing cash on sh*t i'd have about 500,000 left

**johnd** · 03-25-2008, 07:02 AM

I could have lived off a million in assets in the 1990s easy. If the interest rates weren't in the toilet I could now, too.

**SleeperC5** · 03-25-2008, 07:30 AM

100 Million DOLLARS........................

**Packy** · 03-25-2008, 01:45 PM

I say a million dollars would work for me. I am young still!

**CJREX** · 03-25-2008, 04:34 PM

To just MAINTAIN your current standard of living, you need 8-10 times your annual salary.

By maintain, that means NOT dipping into the principal and just living off the interest.

Don't count on SS and don't put a whole lot of trust in a 401k.

There are many billions of dollars in 401ks. At some point, I fear some enterprising politician is going to come up with a way to "borrow" that money for the governments' use, a fear that I've heard a few economists echo.

Just play the LOTTO!

Lotto=a voluntary tax on the mathematically challenged.

**drewhenderson13** · 03-25-2008, 04:53 PM

well, acording to patches (the bum that lives in my town) all you need is a bicycle, camo jacket, and two garbage bags of random shit to retire

**JonB** · 03-26-2008, 01:40 PM

Originally Posted by bmyers

i dont think i would retire if i fell upon a bunch of money anyways.

I agree. I'd be bored out of my mind all my friends work all day so i'd just be sitting around by myself.

500k would not last me from 23-80+. Now if you gave me 500k I would take it and invest it and keep my job. Then at age 40 or so in between the orginal 500k plus intrest and my own 401k and stock plan at work I would then be ready to retire and live comforatbaly.

**ls1ya** · 03-27-2008, 10:13 AM

i could do it on 3 million, i'm 22 just say i live to be 65 that is only about 76 grand a year, i'm at 45 now, i'll get there way before 65, so yeah depending on investments, were i chose to live, and if i would run a small f-body shop in my sparetime. but i would work for a little while longer just so i wasn't a 25 year old millionaire bum probably retire at 35 or 40.