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How much do we need to save to retire?
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Topic: How much do we need to save to retire? (Read 2684 times)
deterra_k
5 O'Clock Shadow
Posts: 7
How much do we need to save to retire?
«
on:
July 09, 2015, 06:18:21 PM »
I've been a fan of the MMM way of thinking for a while. I wanted to share an analysis that I did that hopefully will help people determine how much they need to save per year in order to retire comfortably. I think that it is a shame that many of our school systems do not cover basic fundamentals like this, so hopefully some folks will find this analysis useful.
https://sites.google.com/site/deterrak/home/saving-for-retirement
Enjoy, and please tell me what you think, what content you might want to see in addition to what is already there.
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MDM
Senior Mustachian
Posts: 11490
Re: How much do we need to save to retire?
«
Reply #1 on:
July 09, 2015, 06:26:36 PM »
As websites go,
http://networthify.com/calculator/earlyretirement?income=50000&initialBalance=0&expenses=20000&annualPct=5&withdrawalRate=4
may be the most convenient and flexible for simple (simplistic? - in the eye of the beholder) FI calculations.
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Late_Bloomer
5 O'Clock Shadow
Posts: 95
Age: 50
Location: Texas
Counting every penny.
Re: How much do we need to save to retire?
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Reply #2 on:
July 11, 2015, 10:29:24 AM »
My 14 yr plan started earlier this year. I'm maxing 18k saved annually. Spouse is doing the same. According to your chart, we'll net combined just over 700k. That's the same ball park figure I came up with from other sources.
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How much do we need to save to retire?