The thing is, they didn’t say earn $130k, they said have $130k of wealth. If your retirement account is below that, you’re not retiring for a long while. With the exception of the few that have pensions.
I probably have that or a bit more if you account the house appreciation and my savings, but I’m not selling or moving, and with costs that’s nowhere close to what I’d need to retire.
Assuming my current living standard and estimating costs cautiously at 70k annual without accounting for inflation, I’d need around 2.4 million to retire today, and that’s assuming I only live into my 70s. No way that’s happening without a powerball ticket, but thankfully I’ve got more than a few years left in me before retirement age.
The thing is, they didn’t say earn $130k, they said have $130k of wealth. If your retirement account is below that, you’re not retiring for a long while. With the exception of the few that have pensions.
I probably have that or a bit more if you account the house appreciation and my savings, but I’m not selling or moving, and with costs that’s nowhere close to what I’d need to retire.
Assuming my current living standard and estimating costs cautiously at 70k annual without accounting for inflation, I’d need around 2.4 million to retire today, and that’s assuming I only live into my 70s. No way that’s happening without a powerball ticket, but thankfully I’ve got more than a few years left in me before retirement age.