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Retire Early Home Page • View topic - How much to save for retirement?

How much to save for retirement?

Can retiring early make you crazy? Get the latest news from the world of Hoco-mania. Surprising insights on arithmetic, imagined 'death threats', message board administration, and the merits of leaving a high-paying job only to pursue sub-minimum wage work in retirement to make ends meet. For more on Hocomania see Rob Bennett, author of Passion Saving.

How much to save for retirement?

Postby intercst » 11/25/11 at 01:41:35

Some frightening numbers from the Wall Street Journal.

http://blogs.smartmoney.com/encore/2011/11/23/how-much-do-you-have-to-save-for-retirement/?mod=rss_&link=SM_article_blogsum
[pre]
Table 2. Saving Rate Required for a Medium Earner to Attain an 80% Replacement Rate with a Starting Age of 35, by Rate of Return
Retire at:      Real Rate of Return
age ? ? ?2% ?      4% ? ??6%
62      46%      35%      26%
65      32%      24%      17%
67      26%      18%      13%
70      16%      11%      7%

[/pre]</snip>


I'm glad I got out when the getting was good.

I started saving 25% of my gross salary at age 25, and slowly ramped that up to 50% of gross in the last few years before I retired in 1994 at age 38. I enjoyed a 15% nominal return during a period when inflation averaged 4%, so that's an 11% real return.

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