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How Much to Retire in 2030?
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U.S. average monthly living expenses (TODAY)$5,000.00
*average of 2.5 people per household
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Monthly expenses (2030)$6,800.00
*assuming 4%/year inflation until 2030
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Annual Expenses (2030)$81,600.00
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30 years retired Expenses (in 2030 dollars)$2,448,000.00
*average U.S. retirement length = 18 years
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Perpetual growth rate7% 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 7% in real growth
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Invested @ retirement$1,100,000.00
*in order to be able to spend 2.5 mil over 30 years
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Retirement savings calculator: https://www.bankrate.com/calculators/savings/savings-withdrawal-calculator-tool.aspx
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