The amount of money you need for retirement is directly related to the quality of living you want to have. Is living on 50k a year what you want to do when you are retired? For me it is having the flexibility to travel wherever I want, whenever I want and to be able to afford whatever I want to. Not saying that I'm going to go out and buy a Ferrari, but I want a nice house, a nice car and I want to be able to pay for my kids education and to give them some $$ to start their lives.
Is 50k a year enough $$ to do that? Not likely. 2-3, maybe 4 million is closer to what I'm aiming at.
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