How Early Can a Person Consider Retirement?
I hate when people respond to a question with a question, but my answer
for how early can a person consider retirement? Is how much can a person
save before hand?
There is no straight forward answer to these questions because every situation is so unique. There are a number of factors that contribute to this answer. For instance, how much you save each year, how your investments do, what it is you
want to do in retirement/how much money you'll need each year, and how long you'll be in retirement. This is a lot to take into consideration.
Since the question mentions it we'll start by looking at how long you'll be in retirement. Unless you have a medical condition that already tells you otherwise, you'll need to budget for a long life. Plan on living to be 95, although if you want to play it safer it's not a bad idea to budget for 100 years of age. Read More
There is no straight forward answer to these questions because every situation is so unique. There are a number of factors that contribute to this answer. For instance, how much you save each year, how your investments do, what it is you
want to do in retirement/how much money you'll need each year, and how long you'll be in retirement. This is a lot to take into consideration.
Since the question mentions it we'll start by looking at how long you'll be in retirement. Unless you have a medical condition that already tells you otherwise, you'll need to budget for a long life. Plan on living to be 95, although if you want to play it safer it's not a bad idea to budget for 100 years of age. Read More
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