What You Need To Retire Comfortably

Here is the long answer.

What you need to retire comfortably. You will need to spend on insurance telephones the internet and tv. Here are the average costs to retire comfortably in every state. However the good news is that some parts of the country are friendlier on the wallet than others when it comes to retirement.

You will need to spend on accommodation property and related taxes energy and water. Most americans don t even come close to that level of retirement savings. Microsoft may earn an affiliate commission if you purchase something through recommended links in this article.

Our newest visualization shows the average amount that a person will need to retire comfortably in each state as well as the average retirement age by state. If you re getting ready to retire soon that figure might cause you to feel a sense of panic. You may have heard the conventional wisdom.

So if you made an. The average retirement age in the u s. According to aarp one common rule of thumb is that you ll need 70 to 80 of your pre retirement income after you retire.

Can t do much about the water. So if you earned the same 100 000 per year you would need to be able to draw 80 000 per year from your retirement savings every year you re retired without depleting your nest egg. The 80 income approach other experts say you ll need about 80 of your yearly income to cover your retirement expenses.

Is 64 years old.