I'm shooting for $3,000,000 but may have to settle on $2,000,000 - $2,500,000. This does not include the value of my condo which is all paid off.
money ain't everything Report Abuse
As much as possible. My house is paid for now, so a good part of my earnings can be saved. I don't intend to retire, just perhaps take things more gently when I get to that age. I love my work and want to continue. All the same, I need to amass sufficient in case of needing better health care, etc. The state pension would not suffice. Between half and one million saved would be a good target, for now. If I reach those figures, I might revise upwards.
Google retirement calculator.
An 18 year old will have to have 2.8 million saved up for retirement in order to retire above the poverty level.
I think someone close to retirement probably needs about 700K just to break the poverty level line.
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I want to save as much money as possible so I don't HAVE to work. That said, I NEVER plan to actually retire. It would drive me insane.
If you're under 40 right now, you should have a goal of $3,000,000.
maybe 10k. my house will be paid for so I won't have a mortgage payment.
hip replacements cost over 200k. If I save that much, who will pay for the other hip?
why bother.