How much is needed to retire comfortably?

[Uncle Saggy]

it dont take near as much as the experts say it does to retire. just get out of debt and stay that way

That’s how we think about it too


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[BlessedVeteran0305]

Then both of y’all bust your *** and go get it done! Lots and lots of folks have physical and mental issues and still handle business. Nobody can fix it but you.

If it were that easy don't you think I'd had done that already.


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[whitetailtrail]

How much is needed to retire comfortably?

25 - 30 times your annual draw


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[sqiggy]

I have mine all planned out. Gonna have some body in the family start a Go Fund Me account. What I end up lacking there, the kids will just have to step it up lol!!!

[ShockValue]

Lots of these posts lately…we are all getting old fast!

[Gumbo Man]

So a person works to the age where him and his wife are fully vested in Social Security drawing around 4000 or more a month and completely debt free with a good nest egg. But you still need 2-3 million dollars to retire? What am I missing here?

[boy wonder]

So a person works to the age where him and his wife are fully vested in Social Security drawing around 4000 or more a month and completely debt free with a good nest egg. But you still need 2-3 million dollars to retire? What am I missing here?

Each individual situation is different, some may need/want a lot more, others not so much.

[rolylane6]

So a person works to the age where him and his wife are fully vested in Social Security drawing around 4000 or more a month and completely debt free with a good nest egg. But you still need 2-3 million dollars to retire? What am I missing here?

I hear ya Terry. I'm looking at around 7500 a month in RR retirement by the time I retire in 7 years. I'll have a small nest egg. House is paid for and no other debt besides the basics of utilities, taxes, and such. If I need another 2 or 3 million ima need to step up my tithing and get God to workin' on that one!

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[Traildust]

So a person works to the age where him and his wife are fully vested in Social Security drawing around 4000 or more a month and completely debt free with a good nest egg. But you still need 2-3 million dollars to retire? What am I missing here?

Exactly, especially if you're 100% debt free.

[Gumbo Man]

I hear ya Terry. I'm looking at around 7500 a month in RR retirement by the time I retire in 7 years. I'll have a small nest egg. House is paid for and no other debt besides the basics of utilities, taxes, and such. If I need another 2 or 3 million ima need to step up my tithing and get God to workin' on that one!

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To me, ( but who am I) that looks like a great plan Rodney. The nay sayers are gonna say that in 7 more years 7500 dollars won’t be what it is today. And there is some validity to that but not a deal breaker when you are debt free. You just have to be prepared and willing to sell the Lamborghini and maybe 3 bass boats ( keep your favorite of coarse) and maybe your summer home in Boca Raton.

[Tyrex750]

I could live very well on 7500 a month. Live on half that now. Some of yall just have to cut out the 10k deer lease and the 100k trucks. Mabye scale the vacations from 5 a yr to mabye 2. My pops lives on 1200 a month. Is he broke, well yes. But, that's where my sister and I come in. What he can't pay for, we do. I will do my best to not have to live like that later in life. Sometimes u just have to play the hand u have, even though it sucks.

[stickman]

So a person works to the age where him and his wife are fully vested in Social Security drawing around 4000 or more a month and completely debt free with a good nest egg. But you still need 2-3 million dollars to retire? What am I missing here?

I don’t see that you are missing anything. Being debt free, having a solid nest egg, and living within your means I’d say most could retire without any issue. Though inflation is real and something to be factored in, I don’t think that’s higher that superfluous spending that can get retirees in a bind. For me it’s all about making a plan/budget and sticking to it retired or not. I think 1 mil is more than enough for our lifestyle.

[tmkrueger]

[emoji383][emoji383][emoji383]


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[RMW]

Also you have to take in account that 90% of people 65-70 spend way less than when they were 10-20 years younger. The desire is just not there anymore, for example most deer leases it’s rare to see a 70+ year old member, it’s the same with other things as well.

[rolylane6]

To me, ( but who am I) that looks like a great plan Rodney. The nay sayers are gonna say that in 7 more years 7500 dollars won’t be what it is today. And there is some validity to that but not a deal breaker when you are debt free. You just have to be prepared and willing to sell the Lamborghini and maybe 3 bass boats ( keep your favorite of coarse) and maybe your summer home in Boca Raton.

if worst comes to worst, I sell my house and land and buy a smaller place and pocket some extra coin, which I may do anyway... Even though I've been eyeing some bigger ones lately, Lol

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