The 4% rule suggests that withdrawing 4% from your retirement nest egg annually allows it to last around 30 years, necessitating significant savings.
To retire comfortably and earn $75,000 per year, you would need a nest egg of approximately $1.875 million, factoring in taxes and fees from withdrawals.
Planning for retirement requires understanding different expenses such as housing, healthcare, transportation, and leisure activities, as well as potential support for children.
Utilizing employer matches and aggressive saving strategies from a young age can help ensure you reach your retirement goals effectively.
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