# How much should I save if I want to retire early?



## georgerobinson (Jun 21, 2012)

Wondering?


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## Landry (Jun 22, 2012)

You don't need savings...you need a reliable income. The rent from property, the interest/repayment from a loan you have made etc. Saving money and even having investments has proved to be the undoing of many people in the past 10 years. What you need is a sustainable lifestyle... to find a way of living that makes you happy and for filled and is affordable too.


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## SeaBreeze (Jun 22, 2012)

You should figure your annual expenses, and approximate how many years you will need to pay those bills.  Of course, cost of living always increases, and prices for home utilities and products needed.  On top of that, you need to expect the unexpected when it comes to financial burdens.  It's hard to put a number on it, it's all individual and personal.


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## WhatInThe (Dec 31, 2013)

Landry said:


> You don't need savings...you need a reliable income. The rent from property, the interest/repayment from a loan you have made etc. Saving money and even having investments has proved to be the undoing of many people in the past 10 years. What you need is a sustainable lifestyle... to find a way of living that makes you happy and for filled and is affordable too.



Absolutely income even if from investments. You also should already be investing on your own with things like rental property, stocks, bonds, etc. You also need to be prepared to reduce your expenses and lifestyle(this is the hardest for many early retirees)

As a crude rule of thumb for early retirement I was told you should have 3 years salary in cash or liquid investments AND a pension, 401k or Ira ready to go. Along with a plan.

Best bet even if taxable make as much money as you can from overtime, a second job, promotion, bonus and/or investments YEARS before retirement.

One last thing a lot of companies offer to buy stock for you at a discount BUT stock prices fluctuate so you might wind up over paying for your company stock. So unless it's like  free or a 50% discount sometimes it's better to take that money and invest on your own. Stock investing is buy low and sell high it's that simple(and risky) BUT you can do research and buy low. You can also diversify so if one stock is tanking you might have something increasing. Mutual funds are good for many would don't want to stock pick. LEARN about investing on your own BEFORE retirement.


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## That Guy (Dec 31, 2013)




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## LogicsHere (Mar 14, 2014)

Unfortunately, everyone's number is different based on lifestyle, income, where you live, etc.


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