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Personal Finance
Retirement
Can I Retire With 500k?
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[QUOTE="Yusra, post: 10023, member: 259"] The short answer is yes. The long answer is that you have to be careful, and do some math. If you make $50,000 a year (and assuming you don't have any debt) you'll need to save roughly 25% of your income before retirement. So if you make $50,000 per year, then you would need to save $12,500 per year. Let's say that your employer matches all of your contributions up to 6%, which means that instead of saving $12,500 per year, you only have to save $6,000 per year! This means that instead of needing a 25% savings rate from the previous example, now you only need a 12% savings rate. That's not too bad! You can still retire with 500k! [/QUOTE]
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