How Much Do You Need for Retirement?

As you learn about various financial tools and how you can use Excel for calculations, my question is, How much do you feel you need at the time of retirement? We all have different amounts of money since we are all retiring at different ages and our personal circumstances are all very different.  For example, I live in an area that has lower than national averages for a cost of living.  However, I do have to address potential medical costs due to how my health has changed during my lifetime.

Answer preview

It is almost impossible to estimate the amount of money needed for retirement. This may be the reason why most people save for as long as they are employed or productive. This enables one to save as much as possible. However, I would use my current lifestyle, future goals and intentions as well as acquisitions to estimate how much I need. I would also make any acquisitions such as property in advance. This reduces the amount required and gives time to develop the property. I believe it is important to invest in strategic companies that are set for growth.

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