Find your retirement "magic number" in 60 seconds. Uses the 25x rule, 4% rule, and 3 different withdrawal strategies. Includes timeline to reach your goal.
The 25x rule: multiply your desired annual retirement income by 25. If you want $50K/year in retirement, you need $1.25M. The 4% rule says withdrawing 4% of this amount in year 1 (then adjusting for inflation) makes your money last 30+ years. Adjust for: longer retirement (add 10x per extra 5 years), healthcare costs (add $200K-500K), and longevity (if you have family history of long life, plan for 100+).