Monday, 17 April 2017

How much do you need to retire? | Find out with the Retirement Savings Chart

When is the last time you bought a lottery ticket and thought to yourself: 'I am going to stop working if I win the grand prize'. How do you know that the prize money is enough to sustain your retirement lifestyle?

Have you ever wondered how much money is required for you to achieve independence?

Max also faced the same problem when drawing up his Masterplan to retire by 40.

Not knowing the size of your retirement gold nest is akin to running a race without knowing the finishing line. You cannot plan for it and spread your resources, and most importantly, you will forever be in the race.

In this post, I am going to share my personal guideline on the retirement savings required for financial independence. You may be surprised that the amount required may not be as much as you thought. But first, let's discuss some of the guidelines others are advocating.