Can anyone explain how much you actually need in retirement? Calculators widely vary. And the “10x earning” is kind of crazy to me, if you continue to advance in consulting and make amazing $.

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The general rule for financial independence is 25x expected expenses and is supposed to hold true for early retirement as it will be sustainable for 35 to 40+ yrs as principle continues to gain. You most likely won't need 200k per year in retirement. Usually assumes most all debt to be paid off by time of retirement including mortgage. Im estimating 100 to 120k/yr in retirement, which puts us at 2.5M to 3M (not including equity).

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Haha, yes unfortunately, unless you live in HCOL area, which a lot of people here do it seems. Hard to give any usable advice for hcol folks. But you're there bc you love it, so it's the price you pay.

25x your expected living expenses in retirement

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Depending on how early you want to retire 30-35x your expected living expenses could be better. Better to over save than rely on the 4% withdrawal rule

Doesn’t matter how much you make. It’s all about how much you spend. Figure that out and then 4% withdrawal means 25x your annual expenses in saving. Want to be conservative? Go with 3% or 33x in savings

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Amazing $ in consulting?

Who/ what gave you that idea?

Estimate out how many yrs you'll likely live for after retirement and give yourself a bit of a cushion. Use the 3% rule instead of 4%

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