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# Playing with retirement numbers

August 17th, 2015 at 01:43 pm

Kiplinger Calculator

Retirement Savings Calculator

Here is an estimate of how much you need to save initially each month to match your retirement nest-egg goal. You will need to increase your savings
in future years to keep pace with inflation. The results below assume 3% annual inflation and 2% annual home appreciation.

Annual Retirement Income In Future Dollars:

\$126,360.00

Annual Social Security and Pension Benefits:

\$0.00

Nest-Egg Goal:

\$3,639,168.00

Projected Future Value of Current Savings:

\$287,000.00

How Much You Should Be Saving Each Month:

This amount includes how much you are already
saving plus any employer match

\$2,414.00

I took a look at Chris Hogan's R:IQ and I plugged in \$50K as an estimate for what I have saved. Plugged in retirement age of 63 and that I'd like to live on \$5K/mth.

Here's what I got.

\$2,080,200
What you need to
invest monthly:
\$331
\$1,256,300
Here’s how much you need to save to reach your R:IQ:
\$823,900

It sure looks like a lot.

### 3 Responses to “Playing with retirement numbers”

1. PatientSaver Says:

\$5,000 a month is way, way high. Have you sat down to figure, as accurately as possible, what your actual income needs will be in retirement? I think you'll find you can get by on a whole lot less, especially if, as recommended, you retire without the mortgage paid off.

2. CB in the City Says:

I agree! I would hardly know what to do with \$5K a month! Though I admit my retirement income is much more modest than most would be happy with, it is easily possible to get by on less.

3. SecretarySaving Says:

As of now I'm living on \$3400/mth with a mortgage. In my retirement years, I plan to travel more. I thought it better to aim higher and not short myself.

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