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Subject:  Re: How much is enough? Date:  1/5/2011  1:44 PM
Author:  aj485 Number:  68080 of 97965

We are two women who between us have about $1 mil invested with virtually no debt. We are both 55 and would like to retire by 65 the latest. I find all the retirement calculators so cumbersome and difficult to use. I just want to know if we have enough invested to be able to retire? Do we sound like we are on track? Any help is appreciated.

No way to tell if you're on track from the information you've given, since you neglected to indicate what your expenses are, and if they will change when you retire.

If your expenses will be no more than $40k a year (including any income taxes you will need to pay), adjusted for inflation, you are probably in the ballpark. If you will have expenses significantly in excess of that, and don't have income sources other than your investments, you probably aren't in the ballpark. If you would have fewer expenses and/or pension/other income to meet those expenses, you could potentially retire now.

But the key is understanding how much income you will need to meet your expenses and where it's going to come from.

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