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One first needs to determine their annual income requirements. Once you have done that subtract your annual after tax social security, pension income, IRA/Keogh income. What you will then be left with is the income stream that you would need from your personal savings. Take that annual income stream and then divide it by somewhere between 3% to 4%, and the
resulting amount would be the level of personal savings that you would require to support your total annual income requirements. So, that is somewhat of a ball park guestimate as to what level of person savings you would need to support whatever your retirement lifestyle is anticipated to be like.
posted by 192.216.14...
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- How much $$$ you need to RETIRE, STICKMAN, Thu, 2 Aug 2012 12:01:37
- Re: How much $$$ you need to RETIRE, Licensed FA, Fri, 3 Aug 2012 20:59:45
- Good investment real estate, Janik , Fri, 3 Aug 2012 17:30:13
- $3M, Sam 3, Thu, 2 Aug 2012 19:50:05
- Re: $3M, PT, Fri, 3 Aug 2012 07:54:30
- $1 Million will yield a continuous $40K per year at 4%, MI-Roger , Thu, 2 Aug 2012 18:51:21
- Re: How much $$$ you need to RETIRE, Justin VanAbrahams, Thu, 2 Aug 2012 12:15:43
- ... tried to be clear, STICKMAN, Fri, 3 Aug 2012 07:08:33
- Re: Start off by determining your income needs, paul de k , Thu, 2 Aug 2012 13:29:45
- Re: How much $$$ you need to RETIRE, Barrymabel , Thu, 2 Aug 2012 12:49:25
- Re: How much $$$ you need to RETIRE, Mark from Toronto, Thu, 2 Aug 2012 12:43:59
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