How much money does someone need to retire?
Before you can answer that, you need to know how much income you
will need in retirement, (and for how many years). So, figure out a
retirement "budget" first.
Then you look at all your guaranteed income sources (pension, social security, other) and deduct their total from the budget amount you figured you'd need.
Last, you take what is left after deducting the other income streams from your target budget amount, and divide it by 4.5%. The answer to that calculation is how much cash you will have needed to accumulate by retirement.
Where can one find a retirement calculator to figure out how much money someone needs to retire at 50?
for me, living pretty much from paycheck to paycheck with a wife and 4 kids. i would think you need enough to retire. first and formost. and then you will need to have enough to always help direct and sometimes indirect family members. and of course enough money to basically fullfill your wildest dreams. how you get there is a different story.
What is the formula that determines the amount of money you need to take out of your IRA at retirement?
So, you will have the money when you retire. If it isn't there you can't retire and have to keep working. The older you get the harder it is to work and to live. Medical expenses go up for you and you still need to eat, pay for housing, have a car, and everything you needed when younger that does not change. Money invested at the beginning of the earning cycle will earn much more…
Go to them and tell them that you need your money back. When they begin to make payments, make sure that you write down how much they pay, the date and have them sign it. That way they know how much they owe you and can't tell you that they paid you all of the money. If they don't want to pay at all take them to small claims court.
If money can cause happiness then it can also create sadness...if food can make us healthy then it can also make us unhealthy....have someone to love in life is nice...having too many is a disaster.....you see the pattern?? Money is good, necessary and can bring happiness...too much of it can be a mess...don't try to earn more than you need and don't spend too much time trying to earn money you dont need. ...there is…