One of the most common questions folks have is how much someone needs to retire. Now the answer will vary slightly depending on who you talk to or which financial adviser you have working for you. There is a general rule of thumb however that I will be discussing and helping you out with there.
How Much Do I Need to Retire Comfortably?
We are living longer, which means we need more money to retire….and ultimately that we are going to need to work longer, many folks into their 70’s and sometimes 80’s!
Here is a recent chart created that outlines how much you are going to need to retire based on how many years you have left to live.
I personally am 33 years old and considering life expectancy is around 80, I would be looking at the 45 years row within this chart. Then depending on how much I want to retire, I would need to have that amount in savings.
How to Generate Enough MONEY in Savings for Retirement
Just as important though, is how can you EARN enough money for your retirement and to do so in an enjoyable way. It is one thing to be able to have a ballpark number in your head as to how much you really need, it is another thing to have that.
Did you know that less than 20% of people have enough money to retire?
Well that is the reality. People are working longer hours, we are living in a “two income” world, yet we still cannot save enough over the course of our lives to retire comfortably. We rely on social security and in many cases, other types of government support…but to be honest it doesn’t have to be this way. There is a way to retire with money. There is also a way to earn consistent income while you retire.
How to Supplement Your Retirement Income
There are ways that you can get started today, not only to help you create a much more lucrative retirement, but to help you supplement you during your retirement doing something that you love.
Have you heard of the Internet? Well then you are aware of the opportunity. 2.8 Billion people are online, buying stuff, looking for answers, looking for solutions to their problems, and looking for information. YOU can take advantage of this and create a business within any passion or interest you may have online…and I am going to show you exactly how through the WealthyAffiliate.com community.
If you join Wealthy Affiliate (which is completely free), you are going to get to access the following just a few seconds from now:
(1) 10 Lesson Get Started Online training course (full video/text lessons)
(2) Two FREE WordPress Websites (in any niche you like)
(3) Access to Million Dollar Internet Experts
(4) Live 24/7 Support
(5) State of the art website builder and hosting
(6) Ability to ask questions to over 220,000 community members
And did I mention, you get access to all of this via the Starter membership for completely free. No credit cards required. Within the first 4 lessons you are going to be well on your way to creating a business that can not only help you retire with money, but supplement your money during retirement.
If you have any questions or any feedback, I would love to hear it. Leave a comment below and I will be more than happy to help you out (I promise to get back to you!)
CEO & Founder