Comments on: Check Our Yesterday’s Personal Finance Hour on Retirement

By: Financial Samurai

Financial Samurai — Wed, 04 Nov 2009 21:00:38 +0000

Hi Jeremey/Financial Smart – Thanks for the responses. Will check it out.

There’s always one more buck to earn, so I’m just going to set an age, and walk away.

By: FinanciallySmart

FinanciallySmart — Thu, 22 Oct 2009 14:08:48 +0000

@Financial Samurai: I believe this article can assist you with the question that you have asked. http://blog.financiallysmartonline.com/?p=136. The Topic is Building a Retirement Nest Egg.

By: Jeremy

Jeremy — Wed, 21 Oct 2009 13:31:12 +0000

Financial Samurai, there’s no simple formula that will give you a golden number for your nest egg at retirement. This is going to be different for everyone based on their life expectancy and retirement plans.

But your line of thinking is correct. You should somehow come up with a number that is large enough that it could generate enough income so that you could essentially live off of the interest it creates or only tap into some of the principal each year so that you don’t deplete your nest egg before you die.

Easier said than done, but it’s a good exercise to help you understand how much money you have to accumulate, how long you have to get there, and how much you need to save today so that you can reach that goal.

By: TheDebtHawk.com

TheDebtHawk.com — Wed, 21 Oct 2009 10:43:36 +0000

I am going to listen to it on my way to work today. Boy I love my ipod.

By: Financial Samurai

Financial Samurai — Tue, 20 Oct 2009 18:55:12 +0000

Jeremy – Sorry I missed it live! I’ll definitely try and get on next Monday.

Is there one simple formula you recommend for how much to save? I’ve come up with $3 million cash, so it can provide a similar level of interest income as a salary I made at a certain point in my life.

Would love to hear your thoughts.