Retirement and Real Estate
Written on Oct 5th, 2009
There was a tweet tonight that kind of got me thinking. Nowadays, most of us are educated in school that we should start saving for retirement as early as possible to take advantage of the benefits of compound interest. There are lots of books that parable that concept, one of which is The Wealthy Barber, a book I read when I was probably 23 or so. The question on Twitter had to do with the amount of money a person would need a year to maintain a roughly comparable quality of life. The number floating around was $50,000 a year, one which I think (depending on where you live obviously), would probably be sufficient for most people, assuming they own their own home. There are several rules of thumb to what that absolute number should be, one of which says it should roughly be about 75% of your final year […]
