How Much Money Will You Need To Retire?
No matter how much you make or how much you have saved, the big question that most people have trouble answering is: How much do I need to retire comfortably? I have met multimillionaires who struggle with this question - the only difference is that their number might be much larger than ours.
A good rule of thumb that financial planners use is 4% of accumulated assets. Of course, you also have to take into account money in pension plans and social security.
Use the Ballpark Estimate to get an idea of how much you will need. Most people are surprised - don’t let it happen to you.
For a fun, entertaining, and enlightening examination of this topic I recommend everyone read Lee Eisenberg’s The Number.