At what point in your retirement savings do you think you will feel safe enough to retire? Do you have a certain number in mind that you aim to reach? How much money do you think you need in order to feel safe and finally set?
With inflation it is hard to say for sure. But for me, $500,000 is my goal. As long as it is invested in good Mutual Funds, I am confident I will be able to retire with dignity. I feel the most important part is just to be debt free as soon as you can. A lot of pressure will be off of you so you will make better decisions financially.
I agree with you. It much better to clear off your debt before you reached your retirement age without savings. Saving early is good, but it will run out easily if you have to just spend it paying your debt when you are no longer capable of working.
As much as I can possibly save. There is no limit on the amount. I don't think that one can ever have too much money saved when talking about retirement, what with unforeseen medical bills, unexpected expenses, and on and on the list goes.
