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Is there anything on how to figure out what your retirement goal should be? Like how am I supposed to estimate costs I will need in retirement to know how much

• enumjorge 9y ago
  The firecalc page has a link to US averages [0]. I haven’t used it myself, so I count vouch for its utility. [0] https://www.firecalc.com/real-cost-of-living.php https://www.firecalc.com/real-cost-of-living.php
• CompelTechnic 9y ago
  A good guesstimate: 1. Figure out your current lifestyle expenses (you can track this over time if you use mint.com or other websites) 2. Subtract your mortgage if you plan to have it paid off by retirement 3. Add in fudge factors for healthcare expenses and increased or decreased discretionary expenses, depending on the lifestyle you think you will live As with any planning, you can stare at the numbers forever and not feel satisfied. There is no one true answer.
  • astura 9y ago
    Your lifestyle/spending in your 20s and 30s has little to do with your retirement lifestyle/spending. Especially if you're rasing children...
    • el_cid 9y ago
      And is that an argument not to plan at all? Of course you can't pinpoint an exact figure, but it still pays off to plan even on a ballpark figure.
      • astura 9y ago
        No.... I did not say don't plan at all, just think about the lifestyle you may have in the future, not the one you have now.
• __blockcipher__ 9y ago
  The normal optimistic number is a 4% yearly WD rate, so 25x yearly expenses saved. I’m a believer in no more than 3% withdrawal, so at least 33 years of expenses.