how much money do u need to retire at 50 yrs if you live to 70?

Question

i have no expenses own hm no kids 600.00 mth SS 700.000 in stocks 350.000 to sell condo to sell

Answer 1

20 years worth.

Answer 2

How do you know that you will not live till 90?
When Ronald Reagan was 70 he won his first term as President of the United States. Then at 74 won his second term.
So if one can be president at 70 why do you think like that???

Answer 3

Hi,
In everyday life it is recommended for you to have three months of your bills/living expense(whatever that adds up to) in your checking in case of emergency.
So if your monthly bills were $2000.00, they would recommend you to have $6,000.00 in your checking or saving every month after bill pay.
So do your math on just your bills etc. as of right now, with what I have just told you. Add that by 20 years,
And also add what money you would get monthly from any other accounts etc, that you hold in your name.

It will come up to a lot of money, but it is just what people suggest to have in case of emergency's, medication if not fully covered etc.(if you had to pay your own insurance)
confusing but I hope I helped.

Answer 4

If you have no expenses, you don't need to save anything. It all depends on the expenses. I'd say $1 million is a lot for someone who has your variables. You can probably spend $60,000 per year comofrtably if invested safely.

Answer 5

The very best thing you can do is talk to a local financial planner. There is so much to consider. Where you live, what you do for fun, what your expected health costs would be. . .