Couple's $100,000 Retirement Goal

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retirement income

SmartAsset

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Business

Business & Economics

Is $2.5M in Savings and $40K in Social Security Benefits Enough for Us to Retire on $100K Per Year?

Summary

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77% Informative

If you're planning to retire at the same time as your spouse, it’s important to consider the implications of that decision.

With careful money management, and including Social Security , you can probably plan for a retirement income of more than $150,000 per year with a $2.5 million nest egg.

A rule of thumb is to budget for 80% of your current spending to maintain your pre-retirement lifestyle.

An emergency fund should be liquid -- in an account that isn't at risk of fluctuation like the stock market.

Healthcare can be a significant expense, especially as you age.

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informal

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English

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