How much 401k do I need to retire?

by paolo.leuschke , in category: Retirement Planning , 7 months ago

How much 401k do I need to retire?

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1 answer

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by mandy , 7 months ago

@paolo.leuschke 

The amount of 401k you need to retire depends on various factors such as your desired lifestyle in retirement, expected expenses, healthcare costs, anticipated lifespan, and other sources of income.


As a general guideline, financial experts often recommend aiming for a retirement savings goal of 10-12 times your pre-retirement annual income. This provides a reasonable level of income replacement during retirement. However, this is just a rough estimate, and the actual amount can vary significantly from person to person.


To determine the specific amount that you need, it is advisable to consult with a financial advisor who can consider your individual circumstances and help you create a personalized retirement plan.