$880k is a magic number

[jIM_Ohio]

https://retirementplans.vanguard.com...appyRetireesdt

cross posted from another forum, but a very good read.

[snafu]

Well explained article, retirement it isn't just about money. While we're seeing an increased number of sales, most of the units in our condo complex are still full of early retirees or seniors. I see that those who had made plans for how to fill their time as volunteers, hands on family involvement, hobbies and projects seem to be getting younger! They are certainly in better health than those who choose to avoid participating in any of the social events and seem to just stay within their walls. We've been shaken lately by an almost parade of ambulances taking our homebody seniors to hospital with serious medical issues.

Do you think stress over money makes people ill?

[TBH]

I like this article. It's a great way to think about retirement planning--thinking about how you want to spend that time and then figuring out how much you need to pay for it. Also I like that $880K number a lot better than the $2 million+ I've been thinking we need for retirement!

[CashUp Sammy]

Thanks for the share. Good read.

[Singuy]

880k in retirement can afford you the life you have been living in the last 65 years..which is lame as hell! Who wants to sit at home and watch tv after retirement?

I can see blowing 100k/year easy traveling the world 24/7..and that's where I want to be.

3 million sounds pretty good right about now

[MonkeyMama]

Great article.

Working with retirees, it makes sense to me. Of course, with most financially sensible people who save their whole lives, $880k is just a starting point. That money should continue to grow in retirement. That sounds like a very comfortable retirement to me, and that is living in an expensive region.

[electric_mikey]

its kind of sad that we live in this world where we measure a good living with making a certain amount of money by our retirement.

but hey, it is what it is.. right?

very good article btw.
and for me, the figure would also be at around 3-5 million-ish.. I know it's high, but I got 30+ years to go so hopefully I'll make it haha

[creditcardfree]

I think we will make that number, just over halfway to go. Thank goodness for compounding and stock price appreciation over time. Just 12 years ago we only had $25K saved for retirement. It can add up.