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/biz/ - Business & Finance

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29971456 No.29971456 [Reply] [Original]

how much money should I save every year to make it?

>> No.29971533

100K

>> No.29971653

Enough for an emergency fund. The rest goes to investing.

>> No.29972392

>>29971456
It depends. I will provide a scenario and you can adjust it as you will. If annual expenses are $40K annually - but $25K annually EXCLUDING rent/mortgage. That might be what you expect to pay in retirement. So, if you want to retire at 65 years old, and live to 90. You need 25 years of savings. 25 years x $25K = $625K. If you are 30 years old currently, then 65 - 30 = 35. So, that is $625K / 35 = ~$18K annually in savings for retirement. Now, lets assume some moderate (2.5% gains after inflation) and that $18K annually required drops to around ~10K on average for those 30 years (you could also save more now and less later - but, probably not less now more later as you would have exponential ground to cover).

I would recommend ~10K annually seeking real gains of 2.5% (nothing overly risky).

>>29971533
Just fuck off.

>>29971653
Decent answer.

>> No.29972452

That's an incomplete question.
Define making it.
Define your timeline for making it.
Define your expected gains over the time you're going to work on making it.