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How Much to Retire in 2030?
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U.S. average monthly living expenses (2022)$5,000.00
*average of 2.5 people per household
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Monthly expenses (2030)$7,500.00
*assuming 5%/year inflation until 2030
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Annual Expenses (2030)$90,000.00
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30 years retired Expenses (in 2030 dollars)$2,700,000.00
*average U.S. retirement length = 18 years so 30 yrs is a GOOD retirement
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Perpetual growth rate6% per year*inflation adjusted average S&P500 ROI has been ~8.29% per year. Even with an increase in long-term inflation post 2030, we can pencil in 6% in real growth
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Invested @ retirement$1,300,000.00
*in order to be able to spend 2.7 mil over 30 years. The $$ continues earning interest over 30 years
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Plus contingency of 15%$1,495,000.00
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Retirement savings calculator: https://www.bankrate.com/calculators/savings/savings-withdrawal-calculator-tool.aspx
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