50% of millennials think they need $300,000 or less to retire in comfort: Here's how much they actually need

[basquebromance]

i'm set for life, like Hulk Hogan after winning the Gawker lawsuit

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[Canon Shooter]

I think it depends on how you want to live after you retire.

I'll be 60 in July. I haven't given any serious thought to retirement, simply because I enjoy the people I work with, the job that we do, our place in the community, etc. It's fun. That said, though, I'm pretty sure I won't want to be going into the office every day when I'm 70.

My smokin' hot Puerto Rican girlfriend and I have discussed this. She's retired from NASA and her pension is, well, pretty fuckin' impressive. We've discussed moving from Florida, which I think is pretty much a given at this point. We're both just over it. I've got my retirement and investment accounts which should easily provide for us. If I choose to sell my companies on top of that, well, a life of never-ending leisure for me.

So, it becomes a question of where we want to live, house or condo, etc. We also discussed having a "base" and buying a Prevost motor coach and hitting the road. That would be okay, and would suit the photographer in me just fine. Diesel prices are gonna' have to come down for us to do something like that, though...

 

[MarathonMike]

i'm set for life, like Hulk Hogan after winning the Gawker lawsuit

How to Save for Retirement

How to determine your retirement goal, pick the best retirement account for your needs and devise an investing strategy that’ll serve you for decades to come.

grow.acorns.com

$300K wouldn't cut it even now. Those jokers are 20-30 years from retirement! They will need a couple million at least accounting for inflation.

 

[Silent Warrior]

Yes, but this is the same group that is now working retail and can't make change unless the cash register tells them what to give back.

 

[Lisa558]

Can’t speak to the other age ranges, but the boomers’ estimate of $750,00 is certainly reasonable:

4% withdrawal rate is $30,000, and if your SS throws off another $30,000 or so is $60,000 a year. If your mortgage is paid off, that’s comfortable enough, IMO.

if you are part of a couple, and you EACH get $30,000 in SS, now you are talking $90,000 a year. In what universe is this not adequate?