What Retirement Can You Actually Afford with $500k, $1 Million, or $2 Million in Assets? - Deepstash
What Retirement Can You Actually Afford with $500k, $1 Million, or $2 Million in Assets?

What Retirement Can You Actually Afford with $500k, $1 Million, or $2 Million in Assets?

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What Retirement Can You Actually Afford with $500k, $1 Million, or $2 Million in Assets?

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3 Questions to Answer to Know How Much You Need to be Able to Retire

To figure out how much you need in order to retire, answer these questions:

  1. How long do you expect to live in retirement (early retirement = longer retirement)?
  2. What budget can you enjoy living on?
  3. How much income do you expect in retirement (Social Security, rental income, part-time work, annuities, etc.)?

Multiply by 28 the difference between answers 2 and 3. That's how much you'll need for regular retirement age. For early retirement, multiply by at least 33.

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