Is $3,000,000 enough money for retirement in year 2035 ?

Answer 1

Maybe, depending on how high you want to live.

3 million in 29 years is roughly equivalent to $750,000 now. You can pretty safely withdraw 4% per year forever or about $30,000 per year in today's dollars. If you are SS age you get another $15,000 or so for a total, in today's dollars, of $45,000 per year, increasing with inflation, forever.

Is this enough for you?

Answer 2

For all we know cable will cost that much by then.
And medical bills can wipe that out in a year if you have a debilitating injury or disease.
The most important thing is to take a hard look at how you want to spend your retirement. Do you want to travel all the time? Go on Senior gambling junkets? Stay and home and play with grandkids?
Lifestyle (and the cost of it) is much more important than how much money you have at retirement.

Answer 3

If this is investments, in addition to having a house, then would likely be, especially if you also have a pension and social security to pay your basic living expenses. You should be able to invest that amount at a high enough return that you would not have to dip into principal.

You won't be living like a king, but should be quite comfortable, and able to travel within reason if you want to, and help with grandkids college expenses if you have them.

Answer 4

it will depend on your cost of living in 2035.

Answer 5

If the earth hadn't been destroyed by nuclear war, definitely, 3 mil is plenty.

Answer 6

that would depend on how old you would be, calculating inflation 1 million dollars of buying power comes at the price of 2.35 mill

Answer 7

nope our house is worth 5,000,000$ and were still not good. gas, eletric, ... etc. The prices will raise

Answer 8

If you live in texas !

Answer 9

i believe for most ordinary ppl shld be enough...

Answer 10

Yes. (In Mexico)