4min chapter

Dev Raga Personal Finance cover image

315 retirement money mistakes

Dev Raga Personal Finance

CHAPTER

How Much Do You Need Per Year to Retire On?

You can't be spending like you're still working in your retirement unless of course you're planning to retire on several million dollars. The rule of thumb is around the 70 percent of my peak earning years that's what I think people should aim for when it comes to retirement income. So again I've sort of picked out in between sort of 70 percent to me sits well. Number four is underestimating income requirements in SUPA. Now this is surprisingly common especially amongst the health care community. Many doctors routinely tell me they can live on 60 thousand dollars per year annual income as a retiree. While at the same time they're also telling me things like during their earning years right now their annual

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