Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Off-Topic Discussion
Off-Topic Discussion
How much income do you need to retire?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support Yamaha FJR Motorcycle Forum:
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="rockmurf" data-source="post: 1126782" data-attributes="member: 2124"><p>Great points mentioned so far and I will probably repeat a few and maybe add a new one. The question was how much do you need to retire. To come up with that number is actually easier than you think. Add up you monthly expenses, your want and or need to do list, your projected expenses ie maintenance to home and vehicles etc,. and you have your amount. The stumbling blocks will be health care, taxes and inflation. People with 401k's and deferred compensation savings will be hit with taxes of 20% and up when they withdraw their money. So if you have 400 grand in a 401k and your tax bracket is 25% and you were to withdraw all of it you would net 300k.</p><p></p><p>Do your best due diligence and hopefully you will be ok. The best thing you can do prior to retirement and as soon as possible is to take care of your health through diet and exercise. The healthier you are going into retirement the less problems you will have, the more you will be able to enjoy that moment you worked your whole life for, and not only will insurance be cheaper for you but you will be able to get insurance.</p><p></p><p>Tomorrow is not guaranteed so live life in moderation and have fun. I hope this was helpful.</p></blockquote><p></p>
[QUOTE="rockmurf, post: 1126782, member: 2124"] Great points mentioned so far and I will probably repeat a few and maybe add a new one. The question was how much do you need to retire. To come up with that number is actually easier than you think. Add up you monthly expenses, your want and or need to do list, your projected expenses ie maintenance to home and vehicles etc,. and you have your amount. The stumbling blocks will be health care, taxes and inflation. People with 401k's and deferred compensation savings will be hit with taxes of 20% and up when they withdraw their money. So if you have 400 grand in a 401k and your tax bracket is 25% and you were to withdraw all of it you would net 300k. Do your best due diligence and hopefully you will be ok. The best thing you can do prior to retirement and as soon as possible is to take care of your health through diet and exercise. The healthier you are going into retirement the less problems you will have, the more you will be able to enjoy that moment you worked your whole life for, and not only will insurance be cheaper for you but you will be able to get insurance. Tomorrow is not guaranteed so live life in moderation and have fun. I hope this was helpful. [/QUOTE]
Insert quotes…
Verification
Post reply
Off-Topic Discussion
Off-Topic Discussion
How much income do you need to retire?
Top
