NestEgg = (Expenses per year X number of years you want to be retiree)Congrats 13BlackGT, enjoy every day of your retirement years.
Side question, when it comes to everyone's retirement planning... What's a consensus opinion as far as a good "nest egg" amount? I know this is a HIGHLY subjective number based on many factors, but without having a pension to rely upon, does everyone believe 1, 2, 5?? million is an amount to have working for ya with investments?
Let's assume a retirement age of 55. Opinions??
2 million should be enough for 20 years as long as you don’t have a mortgage and all that. You still get taxed on the money though so take that into account. I say as long as you can make roughly 100k a year you are good to go.Congrats 13BlackGT, enjoy every day of your retirement years.
Side question, when it comes to everyone's retirement planning... What's a consensus opinion as far as a good "nest egg" amount? I know this is a HIGHLY subjective number based on many factors, but without having a pension to rely upon, does everyone believe 1, 2, 5?? million is an amount to have working for ya with investments?
Let's assume a retirement age of 55. Opinions??
Don't underestimate your life span either. All my grandparents lived into their 90s.Congrats 13BlackGT, enjoy every day of your retirement years.
Side question, when it comes to everyone's retirement planning... What's a consensus opinion as far as a good "nest egg" amount? I know this is a HIGHLY subjective number based on many factors, but without having a pension to rely upon, does everyone believe 1, 2, 5?? million is an amount to have working for ya with investments?
Let's assume a retirement age of 55. Opinions??
Certainly a valid point, but the odds are against me making it to that age.Don't underestimate your life span either. All my grandparents lived into their 90s.