Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 month ago

What is a “safe” amount of money to retire on?

And let’s assume that 60-90% of that amount of assets is invested into income generating instruments such as stocks, bonds, real estate, REIT’s, etc.

Update:

Assuming you retire at age 65

8 Answers

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  • 1 month ago

    With a Liberal government, no amount is safe. Liberals need taxes and everybody's money is fair game. eventually they will raid the $Trillions in dollars that have been saved for retirement by millions of Americans. 

    Liberals are the perfect example of pick pockets

  • 1 month ago

    6 million bucks.  5 million will probably do but 6 would feel more comfortable.

  • RICK
    Lv 7
    1 month ago

    Depends on pensions, how much SS you get, life style, are you debt free, do you own home free and clear.

    I retired with a military pension, SS, all houses paid for, all cars paid off and only a little in savings.

     Before Covid we traveled extensively,  dined out frequently and now 13 years later the savings have more than doubled 

  • Anonymous
    1 month ago

    Where?  You need a lot more in NY or CA than in MS.

    At least a million Id say.

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  • n2mama
    Lv 7
    1 month ago

    3 million dollars. People can and do retire on a lot less, but that’s my target. And I intend to be debt free including no mortgage when I retire.

  • Anonymous
    1 month ago

    No one answer.   250k would be ok for me- single, no debt, own my house and vehicle, don't expect to live past 70, know how to live off very little.

  • 1 month ago

    Depends on your lifestyle, and the cost of living where you plan to retire.  I'm thinking about it.  I've got 3/4 of a mil saved up and will get a pension.  My house is paid off so I don't have that to worry about.  I just haven't pulled the trigger yet. 

  • Sandy
    Lv 7
    1 month ago

    What one person considers "safe" will not be enough for someone else. A lot depends on variables such as if there's a mortgage and what activities will be done during retirement. A person who wants to travel will need more than a homebody. 

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