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http://www.freep.com/article/20140602/BUSINESS07/306020099

Q: How much will most people need to live comfortably in retirement?

A: Exactly how much you'll need for retirement is complicated because there are so many variables, including your essential expenses (housing, food health care) and discretionary expenses (travel, clothes, entertainment, dining out). Everybody's situation is going to be a little different. People often underestimate how long they are going to live. A quarter of us will live into our early 90s, so we are really planning for a retirement that could last 30 years.

Fidelity offers this rule of thumb: Save at least eight times your final salary to help increase the odds that you won't outlive your savings during 30 years in retirement. This amount assumes that you'll get some money from Social Security and that your expenses after you retire will be lower than when you were working. Higher net-worth folks usually need to save more than eight times their final salary.



Looking for discussion. I've actually saved/invested/lucked into 8X salary already, but 5X that is real estate- my house and an rental. I've usually read to discount the value of my residence. I'm tracking my net worth, but for FIRE purposes, should I simply discount that Real Estate?

Thanks

Fredinseoul
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