How much do you really need saved to retire comfortably at $10,000 a month? It turns out, the answer is influenced by key factors beyond the typical 4% rule. Discover how Social Security can ease your savings burden and why the choice between Roth and traditional IRAs matters. Learn about withdrawal strategies and the impact of your retirement age on your overall savings. Real planning examples illustrate how to tailor your retirement plan based on your unique needs, whether you aim for $5K or $15K monthly.
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volunteer_activism ADVICE
Use 4% Rule Baseline
Start with the 4% rule as a baseline to estimate retirement savings needs.
Multiply your desired pre-tax annual spending by 25 to get an initial portfolio target.
volunteer_activism ADVICE
Factor Other Income Sources
Factor in other income sources like Social Security to reduce portfolio size needed.
Greater non-portfolio income means less reliance on savings to cover retirement expenses.
insights INSIGHT
Account Type Affects Savings Needs
The type of account holding your assets dramatically impacts tax consequences and portfolio size.
Having assets in tax-free accounts like Roth IRAs can reduce needed savings by hundreds of thousands.
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If your goal is to spend $10,000 a month in retirement, how much do you really need saved? The answer isn’t as simple—or as overwhelming—as it might seem.
In this episode, I break down the key factors that influence your retirement number beyond the common 4% rule. We’ll explore how Social Security can significantly reduce what you need to save, why account types like Roth vs. traditional IRAs make a major difference, and how your withdrawal strategy and retirement age can shift the numbers by hundreds of thousands of dollars. Using real planning software, I walk through examples that show how all these variables come together.
Whether you plan to spend $5K or $15K a month, these principles apply. It’s not about hitting a one-size-fits-all number—it’s about understanding what works for your unique plan.
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Advisory services are offered through Root Financial Partners, LLC, an SEC registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. We do not provide tax preparation or legal services. Always consult with your CPA or attorney regarding your specific situation.
Viewing this video does not create an advisory relationship with Root Financial. We only provide advisory services to clients under a written agreement. Investment strategies discussed may not be suitable for everyone. All investments involve risk, and past performance is not indicative of future results. Any opinions expressed are as of the date of recording and are subject to change.
The Retirement Planning Academy is an educational program offered by Root Financial Partners, LLC. Access to the Academy is provided through a one-time payment and does not establish an advisory relationship. The content is for general informational and educational purposes only and does not include personalized financial, investment, tax, or legal advice. Participation in the Academy does not make you a client of Root Financial Partners, LLC. Please consult a qualified professional for advice specific to your situation.
Comments left on this video reflect the views and opinions of the individual commenters and do not necessarily represent the views of Root Financial Partners, LLC. Comments should not be considered a testimonial or endorsement of our services and have not been solicited or compensated. Root does not verify the accuracy of comments and is not responsible for their content.
Ready For Retirement