Archive for September, 2010
How Much Retirement Income Do I Need
Thursday, September 30th, 2010
How much money does an average family need to make yearly to have a comfortable lifestyle.?
How much would a husband and wife with 2 children and a cat need to make yearly to have a nice lifestyle. Just a nice size home in a good neighborhood, new vehicles, yearly vacation and not having to wory about money all the time.
We aren’t looking for an extravagant lifestyle. Just a 9-5 type lifestyle where we can comfortably raise our family and have money for Retirement.
Neither of us want high stress jobs that take away from family life. Family, NOT money, is most important to us. My husband works at a bank and is thinking of going back to school. I am majoring in psychology . We are in our early 20’s, no children yet.
How much would we need to make yearly (household income) to achieve this?
We live in the midwest
family is important meaning we want our children to be able to have cultural experiences, go to good schools, live in a nice neighbrrhood where they’ll be safe, but still be home with them when they get home from school and on weekends.
Really it just depends where you live because the biggest factor is always the cost of housing whether renting or buying. In the Washington DC area, to pull off what you are looking for you would need to make at least $100,000 if not a few bucks more. But you could do the same down in Florida on literally half of that, mostly just because housing is cut in half, other prices generally stay the same or aren’t so big of a deal anyway. Those new cars are killers though and I would always suggest to a young person or couple not to get all caught up in cars, go cheap on them, buying used or inexpensive new, because they suck up a lot of income and real fast and they depreciate in value and are a continual outlay if you always have to have a new one. Young people generally need to hold back a little because life is expensive in ways you may not even realize, and esp. if you are thinking of buying a house right away. You get hit with costs you never anticipate that can really hurt. Don’t try to have everything your parents have NOW, they didn’t have it when they were 20 either unless they were just very fortunate. Learn in your twenties, earn in your thirties. It’s a slow process gaining what you describe above, unless other factors make it unusually easy. for you.
NBR | Ready for Retirement | How Much $$ Do You Need? | PBS
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Can I Retire?: How Much Money You Need to Retire and How to Manage Your Retirement Savings, Explained in 100 Pages or Less $8.74 Find all of the following, explained in plain-English with no technical jargon:How to calculate how much you’ll need saved before you can retireHow to use annuities to minimize the risk of outliving your moneyHow to choose which accounts (Roth vs. traditional IRA vs. taxable) to withdraw from each yearWhen it makes sense to use a Roth IRA conversion to save on taxesHow to choose … |
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How to Start a Home-Based Senior Care Business: *Develop a winning business plan *Market your unique services to families *Create a fee structure … care manager (Home-Based Business Series) $8.52 How to Start a Senior Care Business shows how to start and run a profitable, ethical, and satisfying home-based business in the field of senior care. The book covers the range of senior care businesses that are increasingly in demand today…. |
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A Million Is Not Enough: How to Retire with the Money You’ll Need $3.85 Will you have over $1 million ready for your retirement? If the answer is no, and this figure sounds totally out of reach, think again. A million dollars isn’t what it used to be. The truth is that Baby Boomers, who have enjoyed more abundance and pleasures than any previous generation, need more than a million dollars for a comfortable retirement. And you can achieve this-even if you don’t alread… |
