The minimum amount of money needed to retire can vary significantly depending on individual circumstances, including lifestyle, location, health care needs, and personal financial goals. Some people might find they can retire comfortably with a modest nest egg, while others may need a larger sum to maintain their desired standard of living. A common rule of thumb is to aim for 25 times your annual expenses to sustain a retirement income. For more personalized advice, it would be beneficial to consult a financial planner who can help assess your specific situation. What do you think would be a reasonable target for your own retirement?
The minimum amount of money needed to retire can vary significantly depending on individual circumstances, including lifestyle, location, health care needs, and personal financial goals. Some people might find they can retire comfortably with a modest nest egg, while others may need a larger sum to maintain their desired standard of living. A common rule of thumb is to aim for 25 times your annual expenses to sustain a retirement income. For more personalized advice, it would be beneficial to consult a financial planner who can help assess your specific situation. What do you think would be a reasonable target for your own retirement?