No. of Recommendations: 1
I think that retiring with $500,000 or less is entirely possible. It is entirely dependent upon your standard of living. In fact, my mother has retired on less than this. I don't know exactly how much she has, but I know that it can't be even into six digits.

She owns her own home and vehicle, and works when she wants to. For the last 5 years she has worked for half of the year and travelled the rest of it. One year she spent six months in Australia. Retiring has given her the freedom to do what she wants to do, when she wants to do it.

That being said, she is very careful with her expenses. I doubt very much if she spends more than $15,000/year. She has a very large (more than one acre) garden, and barters with some of the neighbors for services and meat. Most of her winter heat is from a wood stove, which she fuels with wood cut on her property.

I agree that it is much easier for a single person to retire on less than $500,000. Only one person's goals and priorities need to be considered: yours.

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