How much money do you need to retire comfortably according to aarp one common rule of thumb is that youll need 70 to 80 of your pre retirement income after you retire so if you made an. If your annual pre retirement expenses are 50000 for example youd want retirement income of 40000 if you followed the 80 percent rule of thumb if you and your spouse will collect 2000 a month from social security or 24000 a year youd need about 16000 a year from your savings. If you wait until you are 40 to begin saving for the future youll need to contribute gbp384 per month to achieve a comfortable retirement by the time you reach state pension age the figure rises to gbp1030 per month if you are aiming for a luxurious lifestyle. Following the first rule if you spend 20000 a year youll need about 500000 to retire comfortably a number that seems a lot more attainable than the 1 million mark going by the second rule using a median individual income of about 35000 you arrive at just over 600000 need for retirement 70 percent x 35000 25 years
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