How Much Do I Need to Retire?
Burst with Arrow
If you asked 100 people, “
How much do I need to retire,
” you’d probably get a range from
5 million to 100 million
The reality is, many of these same people hope they can
retire at 62
! Most people don't know how much they need to retire.
The first step is to figure out how much annual income you want during your retirement years
Determine Your Desired Retirement Income
Take your desired retirement income and divide it by 4% (0.04) to get your goal number.
The 4% Rule
As an example, if you wanted $50,000 per year in retirement, you need to accumulate $1.25 million
$50,000 Desired Income = $1.25 million
Your spending habits, saving habits, and age are all important factors to consider when determining a retirement number
Other Factors to Consider
Swipe up to learn more