Can we retire with $300,000?

Can someone retire with $300,000 in today's environment?

Let's break it down.

Assume that you retire at 62. With current level of hygiene and medical science, you should live to 92, at least.

That is 30 years of retirement.

That is $10,000 per year. That translates to $833 per month.

If that budget includes your spouse, then it is definitely dangerous. Meals aside, there is not much you can do.

If that amount is just for you, you can enjoy a basic retirement. In other words, simply not working.

But what is a life of just getting by, with so many years spent working? You surely will want more. If that is case, then $300,000 is not sufficient. You might need double that sum if you plan to globe-trot and live your life free of financial worries.

You will need your money to work hard for you if you want to enjoy that well-earned liberty.

Drop us a comment if you are keen to learn more about effective retirement planning.