Ep. 48 – How Much Do You Need to Retire
How much money do you need to have saved so you can retire?
Finding out how much you need to retire is more complicated than many people realize. Financially planning for your retirement isn’t just about how much you have in your savings – it also takes many other variables into account.
In this episode, Murs and Radon demonstrate these variables’ effects by comparing two different retirement scenarios. They also reveal how factors like retirement age, monthly spending, inflation, and your savings all play a part in helping you have a long, stress-free retirement.
In this episode find out:
- Why no set savings amount guarantees you a stress-free retirement
- If a million dollars is enough for you to retire
- How spending and inflation affect your savings in retirement
- How to manage your money in retirement
- How to start financially preparing for retirement
Tweetable Quotes:
“There’s no actual number, no formula, for how much money you need to retire.” – Murs Tariq
“If someone has more money saved than you, it doesn’t mean that they have a better retirement plan.” – Radon Stancil
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.
To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.