2007-10-14 14:22:11 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Actually, your age at retirement is NOT an issue. You need about 12 times the annual income to support your lifestyle. Invested at 12% (this 70 average of the US stock market), that will allow you to draw 8% and leave 4% to cover inflation. At that rate, you will NEVER touch the principle and can continue however long you live. That could be 5 years or 500 years.
2007-10-14 14:35:42 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
Well for the REST of your life, since you ARE RETIRING???? You probably need an approximate of 2.5 million dollars! I know it sounds like a lot, but that is for food, clothing, rent, and insurance for the REST of your LIFE!! And if you are planning on getting married, and having children you probaly need about, at the LEAST, 5.7 MILLION dollars! And actually, i DOUBT that 2.5 million dollars is going to get you through the rest of your LIFE!! If you are only 25!!!!! Try retiring when you are 75 and then move to a condo in FLORIDA!!!!!
2007-10-14 14:33:31 · answer #2 · answered by Anonymous · 0⤊ 2⤋
Your desired yearly income divided by 4%.
2007-10-14 14:39:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
More than you can possibly imagine unless you're independently wealthy right now.
I'm sure there's got to be a programme that would help you figure that out.
2007-10-14 14:32:46 · answer #4 · answered by Isabel 3 · 0⤊ 2⤋