What is a “safe” amount of money to retire on?
And let’s assume that 60-90% of that amount of assets is invested into income generating instruments such as stocks, bonds, real estate, REIT’s, etc.
Assuming you retire at age 65
8 Answers
- 1 month ago
With a Liberal government, no amount is safe. Liberals need taxes and everybody's money is fair game. eventually they will raid the $Trillions in dollars that have been saved for retirement by millions of Americans.
Liberals are the perfect example of pick pockets
- babyboomer1001Lv 71 month ago
6 million bucks. 5 million will probably do but 6 would feel more comfortable.
- RICKLv 71 month ago
Depends on pensions, how much SS you get, life style, are you debt free, do you own home free and clear.
I retired with a military pension, SS, all houses paid for, all cars paid off and only a little in savings.
Before Covid we traveled extensively, dined out frequently and now 13 years later the savings have more than doubled
- Anonymous1 month ago
Where? You need a lot more in NY or CA than in MS.
At least a million Id say.
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- n2mamaLv 71 month ago
3 million dollars. People can and do retire on a lot less, but that’s my target. And I intend to be debt free including no mortgage when I retire.
- Anonymous1 month ago
No one answer. 250k would be ok for me- single, no debt, own my house and vehicle, don't expect to live past 70, know how to live off very little.
- ArtemiscLv 71 month ago
Depends on your lifestyle, and the cost of living where you plan to retire. I'm thinking about it. I've got 3/4 of a mil saved up and will get a pension. My house is paid off so I don't have that to worry about. I just haven't pulled the trigger yet.
- SandyLv 71 month ago
What one person considers "safe" will not be enough for someone else. A lot depends on variables such as if there's a mortgage and what activities will be done during retirement. A person who wants to travel will need more than a homebody.