These questions are on the horizon----Do you know the answers?
| How much Money will you need to Retire? | ||||||
| Yearly Income | Amount Needed | You've Saved | You must Save | |||
| Your Age Now | You Retire in | During Retirement | by Retirement | This much now | This much per month | |
| 55 | 10 years | $65,000.00 | $1,300,000.00 | $650,000.00 | $5,416.00 | |
| 55 | 10 years | $65,000.00 | $1,300,000.00 | $300,000.00 | $8,334.00 | |
| 45 | 20 years | $75,000.00 | $1,500,000.00 | $300,000.00 | $5,000.00 | |
| 45 | 20 years | $75,000.00 | $1,500,000.00 | $150,000.00 | $5,625.00 | |
| 35 | 30 years | $85,000.00 | $1,700,000.00 | $200,000.00 | $4,167.00 | |
| 35 | 30 years | $85,000.00 | $1,700,000.00 | $100,000.00 | $4,444.00 | |
| 25 | 40 years | $95,000.00 | $1,900,000.00 | $100,000.00 | $3,750.00 | |
| 25 | 40 years | $95,000.00 | $1,900,000.00 | $50,000.00 | $3,854.00 | |
| This chart is for illustrative purposes | ||||||
| It does not take into account componded interest on savings | ||||||
| Nor does it consider up or down fluctuations in investments such as stocks, bonds, etc. | ||||||
| Amount needed by retirement does not include the value of your home | ||||||
| as it assumed you will be living in your home during retirement | ||||||
| Also based on living to 85 years of age | ||||||
Can You Ever Retire?
It used to be that if you saved
One Million Dollars $$$$$
You could comfortably Retire
I say now you'll need at least
Two Millions Dollars!!!
Oh, I've been told "Come on Reynolds, you've got to be kidding"
Well do the math my friend.....See the Chart below .....it's based on only
$ 65,000.00 Annual Income
...and with our Country's very likely large increase in INFLATION
even $ 65,000.00 a year may turn out to be only worth
about $ 32,000.00 in 10 years from now
The way I see it is like this: The Massive amount of DEBT that the
United States Government is currently planning to amass.....
Can only be paid off in one of three ways:
1. TAX INCREASES with Tax Revenue Growth
2. Printing more money and injecting additional dollars into our currency system
3. INFLATION: Letting Inflation run ahead of economic growth (which is likely)
and then paying off old debt with future inflated dollars
Many Economists agree with me.....Inflation is the likely scenario
.....or it may be all Three --Either way-- You and I LOSE
- Will you ever be able to retire?
- Have you saved over a Million dollars yet?
- What's the value of your 401K?
- What's the value of your home now?
