How much money is enough for a full retirement?

[Zayed1]

I’m Lazy.

[SueShe]

Are you from the UAE, from Zimbabwe, Bhutan or perhaps from Switzerland?

In any case, in the UAE and Switzerland, $1 million will not last a lifelong. In Buthan, you can live like a pasha and probably also in Zimbabwe.

There are so many factors that impact on your miserable million dollars such as taxes, housing, health care, transportation. I am not even mentioning the unimportant factors such as entertainment, hobbies and things like holidays.

To sum up: $1 million will most likely not be enough in the Western hemisphere (Western Europe, USA/Canada) but you may survive in parts of Asia (Bhutan, Nepal, Myanmar and the like). You may also be okay in most countries of Africa and South America.

[KelleyNice]

About $1 million, assuming you would live another 40 years. That's $25,000 a year but considering how the dollar loses value, you might need another 20% to compensate for loss of the Dollar's value.

[KelleyNice]

Thank you for the MH

[zeitgeist057]

I would start with how much you think you need to live for each year, then multiply that amount by 0.05. The reason being, if you need Y amount of money each year, and you can invest your money at 5% (0.05), then you will need X invested, where Y = X * 0.05

Examples:

For $40K/year, you need $800K invested earning 5% per year.

For $50K/year, you need $1M.

For me, I think I would feel most comfortable and confident with about 2 million, earning me about $100K/year. That accounts for some inflation and also there will be some medical expenses as I get older and need more support for my failing body systems.

[jamesgoldman]

Depends on your lifestyle and where you live in relation to costs plus how long you live as well

All I know is I'm working until I die; probably alone, in my mid 50's

[exitseven]

I used to think it was a million dollars but now I would say two million.

[ChiTown33]

Depends how long you plan on living. And what standard of living you expect to enjoy. Also your overall health is a factor.

[MadClown]

Probably the golden 1 million.

[Hairylegs222]

[TroyDT2]

no idea what it will be in 40 years. So my goal is simple: develop enough passive income to cover all expenses and then some.

[jennifer_bloom]

1,500,000 if your 70 years old

[MrTaboo]

Your yearly budget, times 10.

[Psychotic_Buddhist]

I want at least 3 million

[Nikki1989]

A million +

[Twalli]

Depends on your lifestyle

[Guardian45]

Twice more than what you believe.

[Guy13]

100 million.