can one retire comfortably at at age 65 if they had how many million put away (saved)
1. 1 Million
2 2 Million
3. 5 million
4. What amount?
5. Never retire.
It’s pretty easy actually. What you need to determine is how much do you think you will spend per year during retirement? once you know that, you know what you need with one additional piece of information (interest rate on savings account or CD).
Soo.. lets say you think you will need 50K a year to do what you want to do.
Then if interest rates are 5% on CD’s you will need 1 million. At 2.5% you will need 2 million. The trick is to never spend the capital, only the interest.
I feel bad for those who think money makes for a great retirement. Quality friendships & Relationships in retirement are what make for a great retirement.