how much money do we need to put aside for a comfortable retirement?
923838
Do a quick back-of-envelop calculation as follow\n\nMonthly expenditure (rent + car+ food + utilities + travel) * 12 * 25
23009
Good luck, at the rate things are going you can forget about SS completely.  Anyway, this website has a calculator to help you figure it out.\n\nhttp://cgi.money.cnn.com/tools/retirementplanner/retirementplanner.jsp
542458
It depends how much you can afford to take out.  If you're married and have some financial support for your spouse that helps.  If you can live with less than 30k, try and contribute as much as possible until you hit the limit where the company stops matching.  As long as they match, that's basically free money and you should try and take advantage of it.
81711
There's no magic formula. It's just willpower. Put the money a little bit out of reach (a savings account, investment, anywhere away from your wallet and your checking account), and don't spend it.
29787
With 1.5 million invested you should be able to get 6% without a sweat if you have half way decent financial advisor. \n\nThat's 90k in income.  If you have no mortgage I dont see why you can not retire with 90k - taxes.\n\nOf course it depends on what type of lifestyle you are accustomed to and if you are willing to lower your standards while in retirement?\n\nAlso keep in mind that when you reach 67 you'll also be getting money from Social Security so that will hopefully boost your income at that time but does not help now.\n\nI would not recommend touching the principal but rather living off the interest off the money so when you pass away you'll have something for your heirs or charity whatever the case may be.\n\nUltimately only you can decide what type of life to live after retirement.  If you can live with a before tax income of 100k or so you are good to go.  Also remember income from investing are not taxed for social security so you only have federal and state tax to worry about.  Move to a state that has no state income tax and you save 5k right off the bat.
581307
I say $50,000 as well because we do it.  It's a joint income household and we manage to not only save at least $10,000 a year but also have plenty to live and play on.  It's all about keeping that money monster under control :o)
1012922
These people are so silly!  The best thing to do is open an investor account like at ScotTrade.  Put the money in a mutual fund that has a very low Expense Ratio (less than one...say 0.76%.  You can find this info at Morningstar.com...)  Buy into the mutual fund that you choose and even buy more shares with monthly payments into the account.\nYou would be shocked an amazed at what 25 dollars a week will do over thirty-five years.  In fact, if everything keeps going well with the mutual fund, you should be able to retire in 35 years, and that is not counting a 401 you have with a company or even your social security!\nGet to saving now!  Let your money work for you!
1078482
you need to put a small amount of money away each week and it will add up over time.\n\n$20/week is over $1,000 a year . . .  . . over the years, if you invest in a good mutual fund, it will compound into a lot of $$$$$
110431
put a little aside every day. i just took $5 out of my wallet everyday, before i left for work. if you do that for a week then you have $35. for a month that's $150. if you do it for a year then you have $1825. it may not sound like much, but it worked very well for me.
552611
1800Merrill\nBut before you borrow from your 401k be sure to read attached article.
118695
With the exception of annual account fees on the IRA (typically $25-35) you really shouldn't have to pay any fees. What are you being told?
29521
Discuss your situation with a competent financial planner in your area. Do not trust anyone who tells you how much insurance you need without asking you any questions. Avoid insurance salespeople, especially ones who use a multiple of your salary approach.\n\nA good financial planner will complete a survivorship analysis for you. He/she will ask you alot of questions regarding your current financial situation and after making certain assumptions regarding rates of return and inflation, will be able to calculate your family's overall need for assets at your passing and how much of that need would be offset by assets you would have on hand. Don't forget to tell your advisor about any savings or investments you have as well as all life insurance in force, including employer provided. If there is more than enough assets already available, you do not need any additional life insurance, if not, consider purchasing more.\n\nThere is a widespread belief that term insurance is the only worthwhile way to insure oneself. This may not be the case. Term insurance is typically very inexpensive when compared to permanent forms of insurance (whole life, universal life, variable universal life, etc.) but it is important to remember that those term premiums will rise somewhere down the road. Approximately 90% of term policies never pay a death benefit, mainly due to the fact that they became too expensive to keep in force. Term insurance falls into two basic types, Yearly Renewable and Level. Yearly Renewable Term (YRT) premiums start very low. As each policy aniversary passes, your premium goes up. Each year you get older the resulting increase is a little bit larger than the previous year. It makes sense if you look at it from the insurance company's perspective; each year older you get is one year less you have left to live. Level Term will have a certain period where the premiums will remain level, usually 10, 20 or even 30 years. The longer the guarantee period the higher the premiums will be, but they will remain at the initial premium amount for the guarantee period. I prefer Level Term for my clients who need term coverage because it is a much more predictable amount to budget.\n\nPermanent insurances, while requiring higher premiums, also build a cash value, on a tax advantaged basis. If the policy is designed properly, it can make a good savings vehicle for LONG TERM investing goals. As with any important decision, the most important aspect is to get the advice of a competent, trusted professional.
277946
contractor, owner and make enough money to retire
611686
You should start out around $55,000
14234
Try saving $1000 per month for 15 months.  If that's too difficult, try saving $230.77 per week for 65 weeks.  If that's too difficult, try saving $32.90 per day for 456 days.  If that's too difficult try saving $1.37 per hour for 10944 hours.  If all of these are too difficult, the problem is that you are a woman...instead try buying $30,000 worth of shoes at half off.
217174
it depends on how you want to live and where you want to live.  Supposedly, i could live like royalty if I were in Mexico because it is much less expensive there to live and I've been working and saving for 20 years.  I couldn't do that here without penalties to my retirement accounts.  You are supposed to work til you are 65.  Unless you win the lotto.  Better start playing!
619013
10% unless he takes out equal payments over his life expectancy.  He could also roll it into an IRA.