We all dream of that day when we don’t have to go back to work and we can enjoy our free time in retirement… at least, I do. We all know we need to retire, but how do we know if we have enough money saved to have a comfortable retirement?
That is a difficult question to answer because it depends on many different factors, such as your age when you retire, lifestyle, health, and how long you plan on living on retirement money.
There are dozens of retirement calculators that will tell us how much money we will need to retire, but most of them only makes my heart skip a few beats. The numbers those calculators tell us are a little too high, at least for me. My plan is to be able to retire early, but according to those calculators I’ll never be able to retire.