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:
- How long do you expect to live in retirement (early retirement = longer retirement)?
- What budget can you enjoy living on?
- 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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