How much money do i need to retire


How much money do you need to retire? Retirement is the time when an employee of any company or government comes at any time of his life either at age 50 or older. This can be at 70 years although indispensable a break.

But the big question is how much money you need to retire? this amount must be calculated depending on the needs of the person or family that depends. Among the aspects that must be considered are the following:

Life expectancy The Society of Actuaries Estimates That for a married 65 -year- old couple , there is a 45 % chance of one person reaching 90 and a 20 % chance one will reach 95 . Plan for a long life .

Medical costs EBRI Estimates That a 65 -year- old couple in 2019 That does not have any employer -provided health benefits will need $ 450,000 to have a 50 % chance of funding health care expenses not covered by Medicare . Even with employer benefits , there is a 50 % chance That out- of- pocket expenses will reach $ 268,000 . Plan for this big expense .


Inflation Over 30 years , expect inflation to cut your spending power in half . You would need nearly $ 12,000 today to match the spending power of $ 5,000 in 1982 .

Investment style May You never reach if you hide your number from stocks. Bond yields and short – term interest rates are so low That , adjusted for inflation , May you get little or no growth for years .

Savings rate A good rule of thumb is saving 15 % of income each year THROUGHOUT your working life . That puts you on track to replace 85 % of your acerca Final year’s salary for 30 years of retirement without worrying about some gigantic number. If You Have not been saving at That rate, you May need to adjust your savings plan or your retirement expectations .

With this we can consider an average salary of $ 2000 usd per month to live in a normal way without any worries but a year means $ 24,000 usd per year with the settlement of the work can afford.

On the other hand if you want to live with comfort and vacations around the world this gives a monthly average of $ 4,000 usd a month to correct the per diem of any trip abroad , a year that means about $ 48,000 usd per year . So you are planning your retirement and also plan your financial future .

Leave a comment!