Quote:
Originally Posted by WilsonFourTwo
The good news is, you'd also have to be crazy, misinformed or a rare blend of both to think that you need a million in total assets to retire comfortably!
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What do you figure you need? Let's say a guy like me at 30 years old is 25 years from retirement. At 2.9% inflation, 1,000,000 in 2035 is worth $490,000 present dollars. Could you retire right now with $500k in total assets, including your house. Would you be able to count on 5% interest on whatever little you have in your investment account (let's say 200k because you have a 300k house paid off) to sustain you for the next 30 years?
I don't know, I think you're going to need more than $1,000,000 in 2035 to retire comfortably, but maybe an actual economist can convince me otherwise.