How much money do you think is enough for retirement when you reach the age of 40 ? 1 million ? 5 million ?

Answer 1

Due to inflation the best bet would be 5 million. prices rise a lot and what might seem a lot the day you would retire, might seem measly a few years later. Remember when a millionare use to be such a prestige thing. And a few years later there are so many millionare's we moved onto billionares. Go with 5 million or more.

Answer 2

5

Answer 3

For retiring at 40, I'd go with the $5 million. It might seem like a lot, but if you live to be 70 years old, then that money will have to last for 30 years.

Answer 4

Do you want to live well or just get by? 5 million sounds like a lot but its not much if you take into account what a dollar will buy you in forty years. Look at recent history: A gallon of gas was $1.12 in 1996 and more than $3.00 now. A loaf of bread was 86 cent in 1996 and about $2 now... Its easy to imagine $12 a gallon for gas or $8 for a loaf of bread in 20 years!

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Answer 5

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Answer 6

When do you plan on retiring? What do you anticipate your spending needs to be when you retire? How are you investing that money? Not enough information here although you'd probably be pretty well off with $5 million. $1 million might not cut it.

Answer 7

i'm extremely youthful, only 50+, and that i've got greater then sufficient money to retire, Over 5 million as a results of my retirement verify, my 401k's, and my shares. And so a methods as what am I doing. properly shall we only say i'm happy and there are a number of females human beings in my life who help shop me that way. and that i also have a advance coming in some greater years, that is whilst my social protection kicks in and that i initiate receiving tests from my ROTH.

Answer 8

If you were 40 years old today, retired, expected to live to 80 and wanted an upper middle class lifestyle, you could probably swing it on a little bit over $2M. This assumes you maybe need to make house payments, but you don't need to put any kids through college.

Answer 9

I once overhead 2 of my staff arguing over money. 1 complain of insufficient pay check, D other ask ' How much is consider enough, is your enough?'. My point is, ask yourself what type of lifestyle u're looking 4. U get D answer u'self. 4 a start buy a calculator.

Answer 10

why retire when you are 40??? some people's lives start at 40 - but when or if you decide to retire you dont need any money. just faith.