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But some people dont want to just retire.
They want to retire rich.
For 25 and 30 years, the average is $1,740,922 and $2,091,198, respectively.
But what size nest egg would you should probably amass for arich retirement in the suburbs?
It turns out that the burbs arent San Francisco but theyre not cheap, either.
This figure is based on the assumption that a comfortable retirement nest egg would be around $1.5 million.
Heres the rationale, said Shirshikov.
Typically, a comfortable retirement requires 70% to 80% of pre-retirement income.
This is the basis of Shirshikovs assessment that the average suburbanite needs $3 million to retire rich.
Keep in mind that $60,000 would be the base amount for the first years withdrawal only.
Doubling this to $3 million would provide $120,000 annually, said Shirshikov.
This would allow for a more luxurious lifestyle, additional travel and greater financial security.
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