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#1
04-12-2007, 05:08 PM
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Re: How much $ is needed to never have to work again?
Do you mean money more that needs to be spent for things health related the older you are? Or do you mean expenses that have to do with social life? (we can pretend I join a monastry ...which let's me pay for my room and my living expenses [img]/images/graemlins/wink.gif[/img] )
A hint would be nice. 
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#3
04-12-2007, 05:14 PM
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Re: How much $ is needed to never have to work again?
[ QUOTE ]
inflation [/ QUOTE ] Of course the money accumulation rate would need to be higher than the inflation rate. If this is the case than age plays no role here. ...am I wrong here? This is contained in my 3rd assumption. That's why I wasn't sure what mattnxtc meant.
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#4
04-14-2007, 11:35 AM
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Re: How much $ is needed to never have to work again?
A general rule of thumb is that you should have 25X your yearly expenses saved up (so a 4% withdrawal rate). This of course needs to include a provision for taxes. This 25X rule is pretty safe if you retire at the traditional ages of 55+. If you retire younger, then you will need more of course. I would say that if you were 30 right now, you would need over $2 Million
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