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Don't trust your retirement to a hazy and misleading rule of thumb like that offered by Fidelity. Due some work to figure out the variables mentioned above. There are also some fairly sophisticated online calculators like FIRECalc that can help.

In summary, if you are (or think you are) nearing retirement, one of the best things you can do is to track your expenses (both required and optional) quite diligently so you can see what you will need to cover without an income.


Agreed! Especially for ER types that are socking away 20% to 50% of their incomes to investments. Just starting off, you can knock off that much from your income needs.

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