How much money does the average person need to retire comfortably?
You need roughly 60% - 80% of your pre-retirement salary/income each year of retirement adjusted for a hypothetical return, an inflation factor to discount back these hypothestical cash flows, and an inflation rate. Sounds complicated, but a financial planner should be able to get that figure to you fairly easily. To determine the exact amount requires a scientific calculator and some guesstimates on the above factors (return, inflation, and retirement time horizon). Probably not the answer you were looking for,, but its an accurate answer. | 08.17.15 @ 20:16