Realistic Retirement Amount and Age

Well if you are 59 years old you are looking good. If 21, not so much.

If you have 2.5M at 60, and no significant debt, you should be able to live like a king and do whatever you want.

Should be able to do that on a lot less than that.

once your residual/semi-passive/passive income = or exceeds your bills you are technically retired.

When that happens is entirely up to you.

Or if you just want to draw down what you have stashed but I do not operate that way.

YOu will be able to live it up in retirement

One caution about projecting the future value of investments, in my almost 40 years of investing I have not seen a single person whether financial professional or not correctly predict the future performance of an investment over a 20-30 year timeframe. I lived through the crashes of 1987, 2000, 9/11, 2008, etc, at retirement I had about half what I thought I would have had 30 years earlier, fortunately it was still enough.

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once your residual/semi-passive/passive income = or exceeds your bills you are technically retired. When that happens is entirely up to you. Or if you just want to draw down what you have stashed but I do not operate that way.

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This and only this.

When people make these net worth or account projection threads, they almost never discuss or think about the expense side.

Because I'm looking at leaving full time employment in a year or so, I've been sitting down with various advisors for the past couple of years. Any that only looked at my investments and the passive income that they threw off, and didn't put focus on my current and future expenses, I never called back or sat down with again.

There's an old joke: "I have exactly enough money to last me the rest of my life.... as long as I don't buy anything."

How much do you need in retirement? I don't know. How much will you spend?

Better take into account inflation.

Example:

1977 One Million

2017 Four Million + Needed for same purchasing power.

LINK /

I feel like I'll need/want $2M in today's money to retire. So as a 29 yr old that puts my realistic retirement age at about... 75.

Aren't you early to mid 30s?

I think 2.5M will be too little at 60, if 60 is 25 years away.

Everybody at work generally says that you need 1 mil to retire. Of course, most guys out here are within 10 years of retirement. Does this mean 1 mil per person or 1 mil for a couple. I'm thinking 1 mil per person. If you have all of your bills paid and you only have insurances to pay for, how much per month do you really need? I talked to my money manager and he said I'm on track to make my money last until I'm 100 years old. Granted, I know I'll never get to 100 but I'm not ready to retire as of yet. I think that after you're about 70 years old, you pretty much live a comfortable life and not globe trotting. Most people I know that are 70 or above pretty much stay home and sit on the porch. This tells me that if you retire at 60, you will really be "living it up" for about 10 years. I make right at about 100k a year. I figure I need about 50K a year in retirement which should be around 4,500 a month. Actually, I think this should be plenty enough for retirement living. If there is surplus, I can always invest it back or do more. I think that people in their 20's or 30's should at least shoot for 2 to 3 mil in retirement because they need to compensate for SS not being there.