How much money is enough to live comfortably from about age 25-80 or until you perish. Like what would a decent income be annually for a guy that's single, no kids, also doesn't have any friends?
Thanks in advance for your answers.
Steve: 20-25k per year sounds doable for someone who is single and doesnt have a kid. Thats if you live in a smallish city and you dont go to many events and dont travel much if at all.
It depends whether you have accumulated what you need. While the rest of use kids we going to college, my younger brother got into a tool & die apprenticeship and was already making money. He bought the house we grew up in when our dad was transferred out of town while I was still in college. He had some good investments during a stock market crash and retired at the age of 32, about 30 years ago. He hasn't had a job since, unless his twin needs a driver to deliver flowers. He manages our 87 year old mom's retirement investments and a family trust our dad left with his half to make sure she is taken care of.
I lost my job of the past 40 years a little over a year ago, so my goal is to manage my IRA investments and live off of that for another 5.5 years until I can collect maximum social security at age 70 while not depleting my IRA too much, or with any luck actually grow it. So far in the past 14 months I am only down about $2000 after withdrawing much more than that, and still learning.
NO such thing, kid.
Ur parents hopefully can explain why.
People are different, cost of living in different places is different. How is anybody supposed to know how much money it would take for you to live comfortably?
There is no way anyone can tell you the answer to your question because you are asking about up to 55 years in the future. 55 years ago the minimum wage was $1.00 and now it is up to $15 in some cities such as Seattle. Inflation will inevitable go up even at a small amount per year it will most much more in the future than it does now so who knows?
That depends on the person and where they live – so people can live very frugally in a low cost area and get away with $20,000 a year. Some have expensive tastes and live in high cost areas (like NYC, San Fran DC) and would need closer to $80,000 to $100,000 annually.