How much money do I need to retire?
9 replies (most recent on top)
Well given the recommendations and math results posted here, perhaps you should not be calling ML…. Good lord guys… who has nearly $5m of annual expenses?
Take whatever your annual expenses are and divide that number by 0.04 and that's about how much you need.
123,456,789.10
Depends on your living expenses. If you paid off your house, have no debt, and live in an inexpensive property tax/insurance area it is much less that someone with a mortgage, car payment, student loans, etc. If you saved 2 million you can pull about 100k per year indefinitely.
How Much Do I Need to Retire calculators: https://www.merrilledge.com/retirement/personal-retirement-calculator
https://smartasset.com/retirement/retirement-calculator
https://investor.vanguard.com/investor-resources-education/retirement/how-much-do-i-need-to-retire
Yo - try entering your question into Google Search instead of TheLayoff.com
You're Welcome.
Please reach out to your ML advisor.
Depends on your current age and how long you expect to live. If you are around average retirement age it is around 12 times your yearly salary.
I'm fairly confident this is not the forum for financial advice.