There are many variables in this calculation. All of which are based upon your assumptions. Questions: 1) Do you want to leave money behind, or exit as close

There are many variables in this calculation. All of which are based upon your assumptions. Questions: 1) Do you want to leave money behind, or exit as close to zero as possible. If you are aiming for zero, then the amount is significantly less. But has the risk of being off by a few years. 2) How much do you need each year? 3) What do you think inflation will do? Most calculations assume inflation is a fixed amount. Everyone knows it is wrong but you have to use something. 4) How much will your investments pull in each year? Like #2 you have to choose a number. The higher you choose the more likely you are going for a risky investment and will lose everything. 5) Do you expect to need long term care or some other retirement home facilities? My dad is looking at this, and the retirement home is like 50% more than his normal living expenses. Assisted living is like triple his normal living expenses. But a lot depends upon size of the retirement home. 6) What is your tax rate? Those investments will be taxed, as will, most likely, up to half of your Social Security. Your country might be different. Simple method: answer 2 / (answer 4 – answer 3) example: assume 75000 a year (before taxes), investments 7%, inflation 3% 75,000 / (0.07 – 0.03) = 75,000 / 0.04 = 1,875,000 This will leave 1,875,000 for your children. Oh you expect to draw Social Security and a pension? How much? Assume 2K a month SS, and 500 a month on your pension. That’s 2500 * 12 = 30000 Then it is now: (75,000 – 30,000) / (0.07 – 0.03) = 40,000 / 0.04 = 1,000,000