I answered 2-5 Million. There was a recent article with an interactive map showing how long 1 million would last in each state upon retirement. For Arkansas 1 Million would last 25 years. So I figured 2-5 Million if I want to travel. But in these days and times I am unable to save even a penny. I have no savings and live paycheck to paycheck and I am a business owner. Thanks to the economy tanking in 2008 I have still yet to recover. Scary times at the age of 49 .
It must be nice
500k with a average lifestyle I think is enough at retirement with investments
Doesn't it really depend on the many factors of your lifestyle, health, basic finances, career, family size etc?. I was able to travel and still can(being retired)and enjoy social activities w/family and friends(movies, eating out, concerts, etc.). I continue to save and won't allow my savings to get below a certain amount. In other words, I guess I'm content.
I chose at least 100k.
How much a person should have saved varies on their current income and desired standard of living. Everyone should have 6mths of living expenses aside, and should not start saving for retirement until they have one full year of living expenses in an emergency fund. For retirement, people are living longer and should keep that in mind when planning for retirement.
I chose $100,00 because the rest should be invested..