Liam Shorte writes:
A common rule of thumb is that if you want to retire at 60, you will need about 15 times the amount you have calculated for your annual after-tax retirement expenses. So if you estimate $60,000 per year then you will need $900,000…..According to the latest data for September 2012, in general, a couple looking to achieve a comfortable retirement needs to spend $56,236 a year, while those seeking a ‘modest’ retirement lifestyle need to spend $32,511 a year….. The figures in each case assume that the retiree(s) own their own home and relate to expenditure by the household.
Read more at How much do I need to retire at 60? | MYOB Blog.