this post was submitted on 14 Oct 2023
50 points (96.3% liked)
Personal Finance
3803 readers
1 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
How is that possible? Savings rate is the only variable that matters and 50% should be well into early retirement range. Normal retirement is more like 20-25%.
Try this calculator https://networthify.com/calculator/earlyretirement
I made a very lengthy reply here using the example of $30k/year actual salary. Ultimately it hinges on this assumption from the calculator you linked: "Your current annual expenses equal your annual expenses in retirement". I think I will need higher annual expenses than what I have now.
Normal retirement is like 10-15%, depending on lifestyle in retirement and whatnot.
Really retirement is pretty much anything above that.