$A 130,000 per year needed.
Jan 25th 2005, 5:42 am
#1
Banned
Thread Starter
Joined: Jul 2003
Posts: 1,048
$A 130,000 per year needed.
Using the example:
Person:
1. 40 years old,
2. Retire at 65 years old,
3. Expenses $A 50,000 per year,
4. No mortgage,
5. No investable wealth,
6. At retirement wants $A 1,000,000 to produce ~$A 50,000 income:
I calculate that the current Total Income required to meet current expenses, taxes and savings is $A 130,000.
If enough of you ask I'll post the speadsheet.
Person:
1. 40 years old,
2. Retire at 65 years old,
3. Expenses $A 50,000 per year,
4. No mortgage,
5. No investable wealth,
6. At retirement wants $A 1,000,000 to produce ~$A 50,000 income:
I calculate that the current Total Income required to meet current expenses, taxes and savings is $A 130,000.
If enough of you ask I'll post the speadsheet.
Jan 25th 2005, 5:50 am
#2
Down Under and Lovin It
Joined: May 2004
Location: Ellenbrook, Perth, WA
Posts: 692
Re: $A 130,000 per year needed.
Originally Posted by Quinkana
Using the example:
Person:
1. 40 years old,
2. Retire at 65 years old,
3. Expenses $A 50,000 per year,
4. No mortgage,
5. No investable wealth,
6. At retirement wants $A 1,000,000 to produce ~$A 50,000 income:
I calculate that the current Total Income required to meet current expenses, taxes and savings is $A 130,000.
If enough of you ask I'll post the speadsheet.
Person:
1. 40 years old,
2. Retire at 65 years old,
3. Expenses $A 50,000 per year,
4. No mortgage,
5. No investable wealth,
6. At retirement wants $A 1,000,000 to produce ~$A 50,000 income:
I calculate that the current Total Income required to meet current expenses, taxes and savings is $A 130,000.
If enough of you ask I'll post the speadsheet.
Paul J
Jan 25th 2005, 7:20 am
#3
small steps long journey
Joined: Aug 2003
Location: A river somewhere
Posts: 3,451
Re: $A 130,000 per year needed.
Originally Posted by Quinkana
If enough of you ask I'll post the speadsheet.
