How much would this person need to retire?
Assume an individual that is 40 years old, no wife or kids, home paid off and yearly expenses of $30,000 including taxes. Person is educated and has the ablity to find relatively high paying work fairly quickly if the need arose. Assuming expected life of 90 years old and no inheritence, how much would this person need to have socked away? At this young an age, would 30X annual expenses work? That would be $900,000 - how many would be comfortable retiring at that age with that much money? If this were you, how much many would you need to be comfortable to retire full time?
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