How much money do you need to retire at 40?
The short answer without knowing too much about your personal situation is around $2.5 million in investments. At a conservative anual rate of return of 3%, this will yield about $75k. You can increase your income by planning on 4-5% based drawing down your investment along the way, your life expectancy and social security being available. Obviously, this is a very simplistic analysis since I know nothing of your personal situation. Your best bet is to meet with a financial planner and make a plan.
Related Questions
- I sold my fishing licence to the government and agreed to retire under the Groundfish Licence Retirement Program. Is this treated as retirement income?
- I am 30 years old and would like to retire at 60.I pension of INR 2,000 per month at today’s prices when I retire. How much do I need to contribute?
- When I retire next yr my state pension and a private pension will?