Whatever your expenses now like ten times... don't quote me though.
It's really hard to know. It depends on what quality of life you want to have, and what your current spending is. Some people are very careful with money, whereas others spend, spend, spend and can get through just about any amount.
There is no one answer for everybody, but you can guesstimate what you, yourself will need.
Write down all of your expenses for one year. Include everything...eating out, car repairs, medical bills, etc.
Then set up a spreadsheet that takes the total amount and adds 3% per year to that amount for inflation. To that add an extra $3,000 per year to cover surprise expenses. That's how much you will need to live as you are living now.
However, if you decide to downsize, etc, that figure can change.
That depends on where you want to live. In Bangladesh you could easily live on £1000 a year.
Enough to live off a 4% safe withdrawal without reducing your nest egg.
by Akhil S Kumar5 years ago
How much do you spend on hub pages?i had read so many hubs by my friends. So I would like to know about it. I think new hubbers really will be in a curiosity to know about it.
by ngureco6 years ago
How Much Money Do I Need To Have To Be Happy And Live A Good Lifestyle?
by Kieron Walker3 years ago
When is the best time to retire?
by cobrien5 years ago
Have you ever gone hungry so your kids could be full? Have you ever had to turn the power back on yourself? Have you ever had to go to St. Vincent De Paul for diapers? How poor have you been and why?
by Mark Passarelli5 years ago
I spend quite a bit and I was wondering if I was above or below average xD
by Natasha Pelati21 months ago
When looking for information on a hub topic it is good to make sure that the information is accurate and that you have done your homework because there is nothing worse than reading an article that has false...
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