How Much Do I Need To Retire At 55. You should invest 45000 per month in an investment vehicle that earns 8 percent per year within 30 years to accumulate 63823809. How Much Retirement Income Will You Need at 55.
That means if your annual income is 70000 a year you need to save 490000. Retiring at 55 can leave you 30-plus years without a paycheck. Based on the average life expectancy in the UK thats likely to be around thirty years after retiring at 55.
Planning to retire at 55 is different from planning to retire at 65 or older for one very important reason.
Weve assumed your employer will contribute 100 per month and that youll retire at 55. Here is the amount of money you need to retire at 55. That assumes a 4 annual withdrawal rate adjusted for inflation. Required Income Current Dollars.
