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Heres what hismonthly budget will look like.
However, he wants to delay claiming these benefits until he turns 70.
Right now, that brings in around $900 net each month, which is pretty good!
Monthly Spending in Retirement
As Adam prepares for retirement, hes also considering a move to Florida.
This change would likelylower his living expenses, particularly his housing and potentially some of his other costs.
Heres what Adam estimates that his monthly expenses will look like in Florida.
So thatll easily lowermy monthly expensesby around $1,100.
Financial Worries After Leaving the Workforce
To be honest, Im not really that stressed about money.
I think Ive saved a good amount for retirement, Adam said.
How Much Do you oughta Retire?
For example, if you have $1 million saved, you could withdraw $40,000 per year.
But of course, the exact calculations will entirely depend on your lifestyle in retirement.
The 25x Rule
The 25x rule suggests that you should aim to accumulate 25 times your expected annual expenses.
The 25x rule is technically the same as the 4% rule.
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