A couple in their 40s with no retirement savings want $80,000 to $130,000 yearly in retirement. Ramit Sethi shows them they'd need $2.35 million saved to generate $130,000 annually, requiring $45,500 in yearly investments. Without changing course, they won't be able to retire.
I'm in my 40s and we've felt broke for a long time. We're constantly trying to make things work.
I feel like our personal finances are in a better place than they ever have been.
Guys, these are two different universes. Talk about being on a different page. What's the deal?
Maybe sometimes we're overreaching and it just never feels comfortable.
If you cannot build up a reserve, you are already in a very dangerous zone.
I would love to $130,000 a year to retire.
I think it could probably be like $80,000 to $90,000.
Guys, that's like wildly off. To get to $130,000, you need $2.35 million at retirement. That means you need to increase your investments to $45,500 per year. If nothing changes in the next 5 years, what happens to you?
We still are not able to retire.
