How much money will I need to retire?

Will the equation require my house being completely paid for or not?

Public Comments

1. Loaded question. Basically depends on when you want to retire and what your annual expenditures will be. I plan on retiring in 25 years with 2 million saved up to support my lifestyle.
2. Assuming your house is paid for, many investment advisers recommend enough money in your retirement accounts to give you 80% of your income prior to retirement. So, let's say your salary before taxes when you retire is $50,000 per year. Assuming you can get a 4% return on your retirement investments, you will need ($40,000/0.04) $1,000,000 to retire. Best wishes.