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Yay or nay? Can't make up my mind 🤯

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Yay or nay? Can't make up my mind 🤯

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Generally it’s 25x expenses. It’s not a function of salary, but expenditures.
For some yes, for others no. Depends on how much you think you’ll need. I’m planning to have $600k per year available but don’t think I’ll need that by any means. Its truly dependent on your lifestyle - also 10x your salary is probably not necessarily your current salary unless you’re going to make that same pay the rest of your career
Thank you!! Still a LOOOONG way to go (about 30 years left) but chipping away at the goal slowly but surely
Rising Star
I'm retiring aboard next year on 2x my salary
That sounds right. If you have a 500k salary, you should need $5M for retirement
or 20x your salary if you make $250k…so sort of depends on your salary and your lifestyle.
Presuming that the funds stay invested and the market doesn't tank, 10x would allow me to have that same salary for life.
It's not enough if the plan is to keep it in a HYSA to minimize risk.
Yes.
I doubt saving ten times my salary would get me very far unless I end up retiring much later in life. But I suppose this is true for most people
I think that’s a good gauge for someone who is closer to retirement age, but not really useful for someone still early in their careers.