re: How much money do people need to retire?

Backwards way of thinking about retirement. It’s a specific number for all people, based on your lifestyle. It’s not an age

Not one simple answer. Depends on your lifestyle, debt, health, when you want to retire (Do you? As an example, I retired late July of last year. Just went back to the same company, different division, because a group I really liked working with needed help on a project and I can easily do it for them, so I did. Wasn't because of needing money as we've planned for retirement for years and had met our financial goals).

Anyway, our 401k account is at Fidelity and I talk to their Advisors frequently (we have a money manager that helps us plan separately). Fidelity Investments recommends aiming to save 10 times your annual pre-retirement income by age 67 for a comfortable retirement. That's a GENERAL rule of thumb they use.

We watch some YouTube Channels on the subject. Like the way this guy breaks retirement questions down in easy to understand language. Worth a follow.

lol it’s a regular house in Boston suburbs. Welcome to housing crisis

No but the house is likely to appreciate due to its school district and near Harvard. We consider it investment property. We live in Washington state for now but houses here are out of our comfort assuming 2 mortgages

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In America ? If youre currently under 40 and dont come from SIGNIFICANT family wealth, you will likely never be able to retire before you are 80 years old… Gotta move to a LCOL country and you can retire at 50, or even earlier .

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What do you mean by family wealth? Like a stable family that has the means to provide a good upbringing and perhaps reduces your need for student loans/daycare type thing?

Or are you talking about a big fat inheritance?

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What do you mean by family wealth? Like a stable family that has the means to provide a good upbringing and perhaps reduces your need for student loans/daycare type thing?

Or are you talking about a big fat inheritance?

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Your first example isn’t even ‘wealth’, much less significant.. it is simply what you already said, ‘stable’ and comfortable…. Im more referring to your second example .

Inflation might come down in 2025 or 2026, but the middle class is quickly becoming extinct, and unless you are in the- let’s call it 7% of Americans, 12% of Americans- im no economist so im not sure the exact percentage- but if you are not from that particular class- there’s just no way you’ll be able to keep up and you’ll be a slave to debt for most of your life.. to me, the answer is “geographic arbitrage”, or using US dollars that you make in ur 20s, 30s and 40s, then taking those dollars to live a comfortable life in South America or Asia, or similar.. OR moving to one of those areas and working 100% remotely.. it’s the only way to ‘beat the system’, or to even keep up IMO.. then again, im just some random idiot on the internet .

I'm planning $4million total. That's for me and the wife to be comfortable and well taken care of when our health starts declining.

He posted his house on here at some point…I remember seeing the address :)

Then you can vouch it’s an average house in that area

sounds like I might have to enter the illegal narcotics business to retire as a supplement to my day job retirement