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How much money should I save a month to retire early?
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[QUOTE="Suba, post: 292937, member: 3658"] [USER=25467]@Shaf[/USER], the calculation of the pension fund is only an estimate of the funds you will need when you reach retirement age. Indeed, you should have other income such as from property rental, stocks or mutual funds etc. If you are 25 years old now and plan to retire at 50 years old, then you have time to save for 25 years. If your income is $500 per month then your estimated cost of living is $400 per month. If we calculate the pension fund with the formula 4% then your annual expenses are $ 4,800 times 25 is $ 120,000. This is the amount of funds you need when you reach 50 years of age. As much as $ 120,000 you buy stocks or mutual funds with a yield of 4%, then you with a passive income of min 4% will get $ 4,800 every year or $ 400 per month. [/QUOTE]
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How much money should I save a month to retire early?
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