Rule #1 Retirement Calculator

[jac]

Waiting for Phil's company rule one to see listing at stock market. Man .... am gonna invest fully into it

[cyclingphilosopher]

Interesting question to ponder. A couple of months ago I did the math for myself and was actually surprised to find out that currently I wouldn't need to be a millionaire (in euro's) to sustain my current lifestyle, with which I'm happy, indefinitely. A more back of the envelope calculation usually is 25x the annual cost of your desired lifestyle. Personally, I would go up to 28x: 25x annual cost as the basis + 2.5x annual cost in precious metals as portfolio insurance + 0.5x annual cost as an emergency fund.

Perhaps a tip: you can use this calculator also to illustrate the power of compounding. What is the difference between starting at age 20 and age 45? A lot! Even when taking 45 years of inflation into consideration.

[huyma]

Words of wisdom. Thank you! I wish I know this channel exist earlier

[enriquepicazo]

Hi Phil, I just wanted you to know I appreciate the knowledge you bring, and I take your advise seriously!

[tigerrx]

That expected rate of return made my body shiver.

Every YouTube video title in 10 years: “Top 10 jobs for 70 year olds”

[sportsuburban]

20 years from now is 2041, not 2036. When was this video made? We are at 5.4 inflation right now as well..

[willemez]

Hi Phil ! Thank you very much for this impactful presentation ... I am a foreigner and I don't understand the word "berkey". Not even sure how to spell it ... Google translation neither BTW. Thank you ! Karine

[patelpatel]

I am not finance expert, but this is way too simple for real life to work and I consider it as fundamentally wrong. There are too many moving parts in investment like for 20 year you will not put same exact amount into 401k. If you do based on percentage of your income, every year you have some improvements in income as well as investment as you go through inflation. This calculator only consider the inflation for ROI not for investment.

If you planning for retirement, you need to be way more methodical than this, this will lead to way off from reality.

[mariaespudiya]

Hi Phil, is this retirement calculator applicable to person living in Philippines? Because i tried to calculate my monthly cost of living, it Php 300k which is kind of impossible. Im 35 now and plan to retire after 25 yrs. Then living for about 30 yrs after retirement. Thanks