How much money does the average person need to retire comfortably?
Answers | 1
Answered by Gregg Himfar, Financial Adviser in Carlsbad, CA
August 17, 2015
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.
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