It’s a question we should have an answer to. What’s your retirement number, how much money do you need to live comfortably through retirement.
It’s a complicated question, and scares most people (it scared me :)) But have no fear, Excel to the rescue! You can build a rudimentary model to at least get a good idea of your number. All values in the model are post-tax numbers. Tax effects are for another post!
Some base assumptions:
- Retirement age is 65
- Life expectancy is 80
Lets break it down.