Dec 18, 2024
10:42:53am
10:42:53am
Rule #1 is dumb. You should anticipate what your retirement expenses will
be. 10x your current salary doesn't mean anything as far as what you need in retirement.
Say you anticipate your annual expenses in retirement will be $80,000 and your SS income will be $35,000. That leaves a shortfall of $45,000. Using the 4% rule you'll need $1,125,000 saved in retirement to generate the $45k income needed. And of course add cushion if you feel like it.
Say you anticipate your annual expenses in retirement will be $80,000 and your SS income will be $35,000. That leaves a shortfall of $45,000. Using the 4% rule you'll need $1,125,000 saved in retirement to generate the $45k income needed. And of course add cushion if you feel like it.
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