Many people have no idea how much they need to retire. This amount can be measured as both a net worth (of investment assets) and as an income. People also aren't sure whether or not to include the amount shown on their Social Security statements. My latest presentation on QuantiaMD discusses this important concept. It also discusses the fact that most docs won't need anything near their pre-retirement gross income in order to maintain the same standard of living in retirement as they had in their peak earnings years.
My most recent presentation on QuantiaMD was # 6 in the series. This is really a fun format if you haven't seen any of the others. They are 8-15 minutes long, contains slides, polls (usually with much different results than the ones I do of regular site readers), and audio. If you haven't seen the first five, you can find them here:
#1 Live Like A Resident (804 comments)
#2 Student Loan Management (398 comments)
#3 Your Largest Tax Break (753 comments)
#4 The Backdoor Roth IRA (444 comments)
# 5 The Safe Withdrawal Rate (333 comments)
Number six in the series is all about how much money you really need to retire. Future presentations include The Basics of Estate Planning, and The Basics of Asset Protection. Click the link below to view the presentation.
At any rate, check this presentation out and then come back and let me know what you think in the comments section. How much do you feel like you need to retire? What process did you use to determine that amount? Comment below!